LONDON (AP) - BP PLC said Tuesday it agreed with Associated British Foods PLC and DuPont to develop a $400 million bioethanol plant at Hull, northern England, as the company seeks alternative forms of energy generation.
The plant, in which ABF and BP will each hold 45-percent stakes and Dupont the outstanding 10 percent, will have an annual production capacity of 111 million gallons from wheat feedstock.
We ''are confident that construction work will commence early next year after the required regulatory approvals are obtained,'' said Mark Carr, chief executive of British Sugar, a unit of ABF.