Gulf Ethanol Corp (OTC:GFET), announced today the expansion of its search for plant sites throughout the Texas and Louisiana coastal region. In addition to the non-binding letter of intent to purchase an existing manufacturing facility in Bayport, Texas from Clean-Fuel International Corp., Gulf Ethanol is actively evaluating additional sites for the processing and production of ethanol and other biofuels.
“We feel there is an exceptional opportunity to grow a production and processing capacity along the gulf coast. The majority of America’s ethanol production is currently in the corn belt,” noted JT Cloud, Gulf’s President. “We see ample opportunity to expand processing and production to the heavily populated south. We expect to use fuel stocks grown in Texas and Louisiana as well as considering the importation of raw sugars from Brazil and other South American countries,” he added.
“Our team is currently evaluating multiple locations at which we feel we can profitably expand our operations,” he concluded.
The Bayport Industrial District is one of America’s largest industrial parks and the center of the nation’s largest concentration of petrochemical production. Covering more than 10,500 acres, Bayport employs more than 7,500 workers and contributes more than $1 billion per year to the region’s economy. More than 60 of the world’s most prominent industrial firms have plants or other sites in Bayport, including BP Amoco Corporation (NYSE:BP), Lyondell Chemical Company (NYSE:LYO), Dupont (NYSE:DD) and Hoechst Celanese (NYSE:CE).
About Gulf Ethanol Corporation
Gulf Ethanol will produce, distribute, and blend biofuels. Headquartered in Houston, Gulf Ethanol began as an importer of ethanol based fuel for blending operations from South America and the Caribbean Islands. For more information please visit our homepage at: www.GulfEthanolCorp.com.
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