Canada to boost ethanol seven-fold with new plants
Posted on: Wednesday, 6 July 2005, 10:39 CDT
WINNIPEG, Manitoba (Reuters) - Canada will produce enough ethanol so that a third of the gasoline used in the country can contain 10 percent of the greenhouse gas-reducing additive by the end of the decade, the federal government said on Wednesday.
Ottawa announced it will spend another C$46 million ($37 million) to help build five ethanol plants, part of its promise to cut greenhouse gas emissions under the Kyoto Protocol.
It is the second part of a program that gave C$72 million to six other plants in February 2004.
The new plants will boost Canada's ethanol production to about 1.4 billion litres (369.8 million U.S. gallons) of the fuel additive per year by 2007, up from current levels around 200 million litres, the government said.
Ethanol, made from grain or other plant sources, reduces greenhouse gas pollutants because the plants absorb carbon dioxide as they grow.
The new spending includes C$15 million to Commercial Alcohols Inc., Canada's largest ethanol producer, for a new plant in Windsor, Ontario, and C$11.9 million to a farmer-owned project at Brantford, Ontario.
Husky Energy Inc., Canada's fifth-largest oil producer and refiner, will get C$10.4 million to build a 130 million liter plant in Minnedosa, Manitoba, where it currently produces 10 million litres per year.
Husky is also building a similar plant at Lloydminster, on the Alberta-Saskatchewan border.
The government will also give C$7.3 million to Power Stream Energy Services Inc. in Collingwood, Ontario, to convert a corn starch plant into an ethanol plant, and C$1.1 million to Permolex Ltd. to expand a plant in Red Deer, Alberta.
($1=$1.24 Canadian)
Source: REUTERS
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