Valero purchases idle ethanol plant

Valero Renewable Fuels has purchased a 110-million gallon, idle ethanol plant at an Indiana port on the Ohio River, the company announced on Friday.

The San Antonio-based energy company bought the plant, based at the Port of Indiana-Mount Vernon from Aventine Renewable Energy.

Bill Day, Valero's spokesman, believes the company will be able to begin production at the plant within the next few months.

Pekin, Ill.-based Aventine Renewable started building the ethanol plant in late 2007, but after a number of setbacks including bankruptcy and a decline in the ethanol market, the plant stopped production and became idle in March 2012.

With this new addition, Valero Renewable Fuels now owns eleven ethanol plants in seven states, including one in Linden, Ind., approximately 40 miles northwest of Indianapolis.