Ethanol Plant Plans On Hold
Monday, February 26th 2007, 1:22 pm
By: News On 6
ENID, Okla. (AP) -- Plans for an ethanol plant in Enid are being put on hold by what organizers say are market conditions.
Orion Ethanol Vice President Tim Barker says the company is making a corporate decision not to build in the current economy.
He says the factors include rising corn prices, falling oil prices, high construction costs and a negative sentiment from investors because of recent ethanol stock losses.
Barker says despite the delay the plant will eventually be built in Enid.
The plant is one of two ethanol plants planned in Enid.
Oklahoma Ethanol is a cooperative effort by Oklahoma Sustainable Energy and Chaparral Energy to build an ethanol plant although it has not broken ground on the project.