Bunge North America, Inc. and Southwest Renewable Energy, LLC (SIRE) announced Monday that they have agreed to build and operate a 110-million gallon per year ethanol production facility near Council Bluffs, Iowa.
SIRE is an entity primarily owned by farmers in southwest Iowa that was formed in 2005 for the purpose of developing and operating the proposed plant. Under an agreement reached on Saturday, SIRE’s farmer members would hold the majority of shares while Bunge would be the largest single shareholder. Bunge would market the by-products and provide other key services for the new facility.
SIRE recently purchased a 470-acre construction site from Pottawattamie County, which has ready access to transportation, including two interstate highways and five rail carriers. The site is located adjacent to the MidAmerican Energy power plant and is near several petroleum distribution centers.
ICM Inc., Colwich, Kan., will design and construct the proposed plant. Groundbreaking is scheduled for fall 2006 with initial operation scheduled for early 2008.