Company needs $230M to build SC ethanol plant
By The Associated Press Wednesday, October 15, 2008CHESTER, S.C. - A proposed ethanol plant in Chester County faces one big snag before it can open — investors will have to raise $230 million in tough economic times and a tight credit market.
The Herald of Rock Hill reports that East Coast Ethanol officials came to Chester on Tuesday to discuss their plans. They said the plant would produce 110 million gallons of ethanol a year and create at least 43 jobs.
The Columbia-based company hopes to begin building the plant in the spring, but can take a year to get the financing.
The Chester County plant is one of four plants East Coast Ethanol is proposing across the Southeast.
The company’s 120 investors have raised nearly $10 million of the $871 million need to build the four plants.
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