The $90 million ethanol plant proposal for Deniliquin has sparked the interest of potential investors.TYLA HARRINGTON March 5, 2014 4:54am
Potential investors are ‘‘very interested’’ in the $90 million ethanol plant proposal for Deniliquin.
Representatives from Korean company Dongmun Greentec accompanied representatives from NH Investment & Securities, a Korean company interested in backing the project, on a tour of Deniliquin on Wednesday.
A NH Investment & Securities representative said ‘‘we’re not committed to anything but we are very interested’’ when in Deniliquin.
Prior to travelling to Deniliquin, NH Investment representatives and Dongmun Greentec president Sung Ho Joo met with Member for Farrer Sussan Ley and a senior advisor for Deputy Prime Minister and Minister for Infrastructure and Regional Development Warren Truss in Canberra on Tuesday.
Deniliquin Mayor Lindsay Renwick was also at Tuesday’s meeting in the nation’s capital.
Cr Renwick said the discussions in Canberra were based around getting a natural gas connection to Deniliquin, which he says Ms Ley is fighting for.
‘‘‘I’m fully confident (progress on the ethanol plant proposal) is moving ahead as it should be,’’ Cr Renwick said.
‘‘It’s actually coming to fruition quicker than expected.
‘‘(Council manager economic and business development) John Harvie is working hard behind the scenes to secure the plant.’’
Mr Harvie said a natural gas connection would benefit the plant immensely, with Greentec confirming the daily gas requirement for the plant will be the equivalent of two B-Double gas tankers.
‘‘Natural gas is important for the project,’’ Mr Harvie said.
‘‘A natural gas connection would also benefit surrounding areas of Deniliquin as well as several other industries.’’
Construction of the proposed ethanol plant, which would use locally sourced grains to produce fuel and other by-products, is still hoped to begin by May or June.
An application to build the Deniliquin plant was lodged with the NSW Government Planning Department late last year.
A 147.18ha industrial block on the Barham Rd has been declared the preferred site for the plant, which is expected to generate an estimated 40 to 50 permanent jobs at the site and has the potential to inject $200 million into the local economy per year.
It would also create approximately 500 jobs during construction.
The plant will be large enough to produce 110,000 kilolitres of ethanol each year and up to 92,000 tonne of dried distilled grain.
It will also need 300,000 tonne of low-grade grain each year, which would be purchased regionally.
The grain is cleaned and steamed in a multi-step process to create liquid and solid ethanol products.
Infrastructure will include several grain storage silos, a wastewater treatment facility and a process water area which will be irrigated with treated wastewater as part of a recycling system.
The project is still dependent on approval from the NSW Government.
The company is expected to find out if they have been successful by the end of March.
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