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Ethanol Europe to build €97 million plant in Hungary

The Hungarian unit of Ethanol Europe, based in Ireland, plans to build a €97.2 million bioethanol plant in the Hungarian city of Dunaföldvár, a draft government decree that would make the investment a "priority project", speeding up the process of obtaining permits, published on the website of the National Development and Economy Ministry shows.

Work on the plant is to start in January and finish by the end of 2011. The plant will turn 500,000 tons of maize into 200 million liters of ethanol and 170,000 tons of feed. It will create 77 new workplaces.

Ethanol Europe is preparing to sign a contract to take maize deliveries from Cargill Magyarország.

The government may make "priority projects" of investments worth more than HUF 2 billionn that create at least 50 jobs. (MTI-ECONEWS)