Production Resumes at Idled Ethanol PlantPosted: Updated:
Valero Renewable Fuels Co. LLC has marked the restart of a corn ethanol plant in southern Indiana. The company, which is a subsidiary of Texas-based Valero Energy Corp. (NYSE: VLO), employs more than 60 workers at the Port of Indiana-Mount Vernon facility. August 26, 2014
MOUNT VERNON, Ind. - Valero Renewable Fuels Company, LLC, a wholly owned subsidiary of Valero Energy Corporation (NYSE: VLO), and the Ports of Indiana hosted Lt. Gov. Sue Ellspermann and other state and local officials today at a Port Appreciation and Welcome Celebration commemorating the restart of the recently purchased Mount Vernon ethanol plant.
"The opening of Valero's ethanol facility at the Port of Indiana-Mount Vernon is another economic development win for the State of Indiana," Ellspermann said. "When the tenth largest company in the U.S. decides to make such a large investment right here in Indiana, the company is confirming that we have a great business climate that includes our strong agriculture industry and our multimodal transportation infrastructure. Not only is Valero developing a partnership with the Ports of Indiana on this project, but the company is also making a significant commitment to support Mount Vernon and the entire Southwest Indiana community."
The Mount Vernon plant is the 11th corn ethanol plant in Valero Renewables' system and its second in Indiana. It has an annual production capacity of 110 million gallons and uses Delta-T technology, similar to the process already in use at Valero Renewables' ethanol plant in Jefferson, Wis.
Adding the Mount Vernon location gives Valero more than 1.3 billion gallons per year in ethanol production. The plant had been shut down for approximately two years, but Valero Renewables resumed production at the site earlier this month and now employs around 65 full-time workers there.
"We pride ourselves in our operations and being a positive impact to the community," said Martin Parrish, Senior Vice President, Valero Renewable Fuels Company LLC and a Corporate Vice President at Valero. "I'm confident you will find that our actions back this up."
To prove the point, Parrish presented a donation of $20,000 on behalf of the Valero Energy Foundation to the United Way of Posey County to mark the beginning of Valero's impact in the area.
The Mount Vernon plant's logistical advantages include ready access to corn suppliers as well as strong rail, truck and barge transportation. The plant is at the Port of Indiana-Mount Vernon on a location leased from Ports of Indiana, the state port authority. That relationship will continue.
"Valero's team recognized there are considerable strategic advantages for the production and distribution of ethanol at an Ohio River port," said Ports of Indiana CEO Rich Cooper. "Valero's investment into this facility creates significant economic impacts in Southwest Indiana and throughout our state. We're pleased to welcome this world-class company to our port family of businesses."
Valero Energy Corporation, through its subsidiaries, is an international manufacturer and marketer of transportation fuels, other petrochemical products and power. Valero subsidiaries employ approximately 10,000 people, and assets include 15 petroleum refineries with a combined throughput capacity of approximately 2.9 million barrels per day, 11 ethanol plants with a combined production capacity of 1.3 billion gallons per year, a 50-megawatt wind farm, and renewable diesel production from a joint venture. Through subsidiaries, Valero owns the general partner of Valero Energy Partners LP (NYSE: VLP), a midstream master limited partnership. Approximately 7,400 outlets carry the Valero, Diamond Shamrock, Shamrock and Beacon brands in the United States and the Caribbean; Ultramar in Canada; and Texaco in the United Kingdom and Ireland. Valero is a Fortune 500 company based in San Antonio. Please visit www.valero.com for more information.
About Ports of Indiana
The Ports of Indiana is a statewide port authority operating three ports on the Ohio River and Lake Michigan. Established in 1961, the self-funded enterprise is dedicated to growing Indiana's economy by developing and maintaining a world-class port system. The Port of Indiana-Mount Vernon opened in 1976 and has nearly 1,200 acres of land with access to rail service by five Class I carriers. The port is a regional hub for multimodal shipments and handles over 2,200 barges, 85,000 trucks and 26,000 railcars per year. Please visit www.portsofindiana.com for more information.
Source: The Ports of Indiana