The First Hungarian Bioethanol Kft plans to build a bioethanolproduction plant in Kaba, East Hungary, managing director Lajos Juhász said.
The groundbreaking ceremony of the planned facility was held on Friday with the participation of Agriculture Minister József Gráf. The investor plans to spend Ft 20 billion ($110 million) on the new plant, which will be constructed on the site of the former sugar plant. 80% of the investment will be financed from loans and 20% will be covered by Hungarian investors, Juhász said. The plant may start production next spring with a capacity of 300,000 liters per day and will need 300,000 tons of corn per year to produce the projected bio-ethanol amount. (Napi Gazdaság)