Company abandons plans for Illinois ethanol plants

Forbes.com
Associated Press 06.18.08, 4:14 PM ET

CHAMPAIGN, Ill. -
A Tennessee company has abandoned plans to build up to seven ethanol plants across Illinois.

Heartland Ethanol spokesman Mike Craig said Tuesday's decision was based on the high price of corn, which is the main ingredient in ethanol. He also said the company had a tough time borrowing money to build.

Read the full story