Sunoco completes purchase of ethanol plant

Sunoco Inc. has completed its purchase of a 100-million-gal/year ethanol plant in Volney, NY, from bankrupt Northeast Biofuels LP for $8.5 million.

By OGJ editors
HOUSTON, June 18
-- Sunoco Inc. has completed its purchase of a 100-million-gal/year ethanol plant in Volney, NY, from bankrupt Northeast Biofuels LP for $8.5 million.

At full capacity, the plant will supply about 25% of Sunoco’s needs for the congressionally mandated gasoline additive.

Raymond James & Associates Inc. said Sunoco is buying the facility at “barely 20% of construction costs (OGJ Online, May 20, 2009).”

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