United Petroleum buys ethanol plant in Australia

One of only three major ethanol plants located in Australia and the nation's only grains-to-ethanol facility, the Dalby Ethanol Bio-Refinery has been acquired by independent retailer and wholesaler United Petroleum.

The Darling Downs, Queensland-based plant, which produces ethanol from sorghum, became operational in January 2009 but went into receivership in June 2010, owing creditors $80 million (€56.8 million).

The biorefinery was sold to United Petroleum for an undisclosed sum.

Speaking about the deal David Szymczak, general manager of wholesale and logistics at United Petroleum, says: 'United Petroleum plans to operate the plant at full capacity and work with the business to improve production in the future. The Dalby acquisition is a long-term investment and United Petroleum has plans to inject further capital in the plant.'