$350M ethanol plant planned for Port of Albany

The Business Review (Albany) - by Pam Allen The Business Review
Tuesday, April 1, 2008 - 8:36 AM EDT


The Albany Port District Commission on Monday approved a proposal to build a $350 million ethanol plant on 20 acres of riverfront property.

Albany Renewable Energy LLC will pay $20,000 a year per acre to lease the 20-acre site for at least 20 years, commission Chairman Robert Cross said. The project is expected to generate between 300 and 400 jobs during construction and employ between 50 and 60 full-time employees with average salaries of $60,000.

The plant is scheduled to create 600,000 tons of cargo and bring 350 barges a year in and out of the Port of Albany, Cross said. Currently no barges travel through the port.

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