New Floridian ethanol hub open to offers
In Florida, US, Port Everglades wants to upgrade idled tanks to develop as an ethanol hub but finding a company to do the job has caused set-backs.
A Broward County selection committee in April had picked one contender, an affiliate of a Brazilian company. But after repeated objections, it switched in October to the protesting runner-up, an Oklahoma firm. In early November the committee decided to start again.
Executives from Brazil’s Cepemar World Renewable Fuels and the US’ Magellan Midstream Partners were disappointed by the decision, having spent time and money on the process, including legal fees.
Delays in completing the project
cost the seaport roughly $1.2 million (€803,000) a year in foregone lease payments alone. The venture is expected to take at least a year to build and begin operations.
Florida is moving to use 10% ethanol in all petrol by 2010. Investors plan to spend at least $35 million on the project on government-owned land.
A Broward County selection committee in April had picked one contender, an affiliate of a Brazilian company. But after repeated objections, it switched in October to the protesting runner-up, an Oklahoma firm. In early November the committee decided to start again.
Executives from Brazil’s Cepemar World Renewable Fuels and the US’ Magellan Midstream Partners were disappointed by the decision, having spent time and money on the process, including legal fees.
Delays in completing the project
cost the seaport roughly $1.2 million (€803,000) a year in foregone lease payments alone. The venture is expected to take at least a year to build and begin operations.
Florida is moving to use 10% ethanol in all petrol by 2010. Investors plan to spend at least $35 million on the project on government-owned land.
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