Foreign Investment in Domestic Fuel

Cindy Zimmerman

According to the Des Moines Register, Australia’s Global Ethanol announced plans this week to build a plant in Belmont, IA. This is the same group that recently bought controlling interest in Midwest Grain Processors operation at Lakota, IA. In addition, British agribusiness giant Tate & Lyle announced plans last week to build a plant in Fort Dodge, IA.

Global Ethanol had been considering at least nine sites in the US for another plant, according to news sources in Illinois last month, but it’s not clear if the Iowa plant was the decision on that matter or if another site might be chosen as well. Global Ethanol, which is backed by international private investment bank Investec Bank (Australia) Limited, also owns a 60 percent share in a 60 million gallons per year ethanol plant the MGP Cooperative has under construction at Riga, Michigan.