Canada to invest C$80m in 145m litre/year ethanol plant

02 March 2010 18:09  [Source: ICIS news]

TORONTO (ICIS news)--Canada’s government plans to invest almost Canadian dollar (C$) 80m ($78m) over seven years in an 145m litre/year ethanol plant in Quebec province, officials said Tuesday.

The country's federal ministry of natural resources said the investment at Varennes - near Montreal - would support the production of ethanol in Quebec, sustain job creation and help stimulate the economy. Ministry media officials could not immediately provide additional comment.

A spokesperson for Toronto-based based Greenfield Ethanol, which owns the project, told ICIS news that the government money was for an existing corn-fed project. She could not immediately provide additional details.

According to Greenfield's website, the company started up a corn-fed ethanol plant at Varennes in 2007.

Biofuels industry trade group Canadian Renewable Fuels Association lists Greenfield as Canada’s largest ethanol producer.

($1 = C$1.03)

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