Mount Vernon refinery: open for business
After the construction of an ethanol biorefinery began in late 2007 work ceased a year later and Illinois-based Aventine Renewable Energy filed for Chapter 11 bankruptcy in February 2009 but now things are changing.
The Posey County ethanol plant in Mount Vernon was near completion when the building work was forced to stop due to a rise in the cost of ethanol production. The prices of oil decreased as the prices of corn increased.
‘The markets turned on us,’ said Aventine’s accounting and compliance officer Bill Brennan.
Now, a year later, Aventine has emerged from bankruptcy and building at the refinery is set to resume. Brennan explained that there is not much construction left to finish because it was 85-90% complete when the work was halted. The plant is expected to be operational in autumn this year, with Aventine negotiating with contractors now.
When up and running the plant will hire around 50 employees.
Also set to benefit from the Mount Vernon plant coming online is the Ports of Indiana where the refinery is based. Its presence will increase activity at the site. Jody Peacock, Ports of Indiana director of corporate affairs explained that the 2009 tonnage was the port’s highest in 15 years. Aventine’s facility is expected to boost this figure further.
The Posey County ethanol plant in Mount Vernon was near completion when the building work was forced to stop due to a rise in the cost of ethanol production. The prices of oil decreased as the prices of corn increased.
‘The markets turned on us,’ said Aventine’s accounting and compliance officer Bill Brennan.
Now, a year later, Aventine has emerged from bankruptcy and building at the refinery is set to resume. Brennan explained that there is not much construction left to finish because it was 85-90% complete when the work was halted. The plant is expected to be operational in autumn this year, with Aventine negotiating with contractors now.
When up and running the plant will hire around 50 employees.
Also set to benefit from the Mount Vernon plant coming online is the Ports of Indiana where the refinery is based. Its presence will increase activity at the site. Jody Peacock, Ports of Indiana director of corporate affairs explained that the 2009 tonnage was the port’s highest in 15 years. Aventine’s facility is expected to boost this figure further.
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