Town signs lease deal with biofuels company

GLOSTER β€” The town of Gloster has signed a lease with Drax Biomass International for its Amite BioEnergy wood pellet plant.

The Enterprise-Journal reports that the 15-year lease calls for the company to pay the town $8,000 per year for the first 10 years and $9,000 for the next five. There are options to continue the lease at $10,000 per year for the next 10 years and $11,000 per year thereafter.

The board of aldermen this week issued a permit to Haskell Co. of Jacksonville, Fla., to begin site work at the local industrial park.

Drax, a British energy company, plans to invest $80 million in the operation and employ at least 45 people. Wood pellets are burned by European power plants and industries in an attempt to cut carbon dioxide emissions.

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