60mgy biodiesel plant to be sold at auction

A $60 million (€53 million) biodiesel plant owned by American Energy Producers (AEP) is to be sold at auction.

AEP began building its biodiesel plant with $35 million of funding. Construction work stopped when the company was unable to secure additional funding due to unforeseen economic challenges. The company says it will consider a partnership offer prior to the auction to complete the plant.

At the time construction stopped, approximately $38 million had been spent on construction and engineering work.

The facility includes a partially completed 60 million gallon per year biodiesel plant on 508 acres of land, with plans to add a 35 million bushel per year soyabean processing facility. The real estate will be sold in tracts or as an entirety. The more than 300 equipment lots will be sold piecemeal, following the real estate.

The site has new gas pipeline in place and rail access with plans for a 110-car oval rail track. The planned feedstock was refined and bleached soya oil, with plans to supplement with animal fat and waste cooking oil.

Maas Companies of Rochester of Minnesota, US will auction the plant at 11am on 10 March.