Biofuels company to build three plants in state
Published: August 27,2010
JACKSON — A company that will produce a crude oil substitute from biomass plans to build its first three facilities in Mississippi.
Gov. Haley Barbour announced details yesterday of the project proposed by Texas-based KiOR.
KiOR president and CEO Fred Cannon says his company will become first to commercially produce biofuel through the catalytic conversion technology. The plants will be in the City of Columbus and Franklin and Newton counties, areas with large timber supplies.
Barbour has called a special session today for lawmakers to approve incentives for the project. Those incentives include a $75-million loan.
Barbour says the company won’t receive any state subsidies until it has signed a contract with a major oil company. Cannon says KiOR is in final negotiations with two refineries.
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- DAVID DALLAS: Who in the Hell are We?
- New Mississippi state highway map is available for the public
- Tanger Outlets involved in Southaven project
- Ingalls to lease former SRHS clinic in Gautier for employee medical center
- Ikea confirms plan for Memphis store
- McCrory joins Epps in asking for trial delay
- Former Lane Furniture plant sold for $1.45 million
- OUR VIEW: JRA evolving toward transparency? Maybe, maybe not
- Jon-Paul Croom made CEO