11 October 2011 23:03 [Source: ICIS news]
BUENOS AIRES (ICIS)--Argentina firm Bio4 will build an ethanol plant in the south of Cordoba province, a company source said on Tuesday.
“The plant will be inaugurated in 2012 and will be located in the locality of Río Cuarto,” said Bio4 president Manuel Ron.
It will produce 50m litres/year of corn-based ethanol, which is the amount assigned by the Argentine governor for sales in domestic market.
“Financing for this project will be a combination of 40% capitals from Bio4 partners –approximately $7.5m [€5.5m] – and 60% between bank loans and debt emission,” said Ron.
Bio4 is a group of 24 companies from the rural sector of Cordoba province, which will operate the ethanol company as a cooperative.
($1 = €0.73)
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