Poet putting plan for ethanol pipeline on hold
SIOUX FALLS (AP) — The nation's largest ethanol producer is putting its plan to build a dedicated ethanol pipeline on hold because of the lack of prospect for a federal loan guarantee.
SIOUX FALLS (AP) — The nation's largest ethanol producer is putting its plan to build a dedicated ethanol pipeline on hold because of the lack of prospect for a federal loan guarantee.
Sioux Falls-based Poet and Magellan Midstream Partners LP had been studying the feasibility of a $3.5 billion, 1,800-mile pipeline that would send ethanol from plants in Iowa, South Dakota, Minnesota, Illinois, Indiana and Ohio to distribution terminals in the northeastern United States.
Magellan announced it was placing its interest in the project on hold early last year.
Poet CEO Jeff Broin says he believes the pipeline is a viable project with tremendous benefits for the country, but the ethanol company will focus on other efforts.
Broin also says that the existing infrastructure for transporting ethanol serves the industry well.
Tags: jeff broin, news, updates, ethanol, pipeline, poet, business, energy
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