HOPEWELL, Va. (AP) — A British company is buying a bio-fuel plant in Hopewell that never opened after it was completed in 2010.
WWBT-TV reported (http://bit.ly/13c2b89 ) Wednesday that Future Fuels LLP will buy the facility from Osage Bio Energy, which cited unfavorable market conditions for the false start for the barley-to-ethanol facility. The purchase is in the preliminary stages, and details are not available.
Hopewell City Council member Christina Luman-Bailey describes the buyer as "excited and highly motivated." She says the plant will bring an estimated $2.2 million in annual tax revenue to the city, which also expects to collect $1.6 million in overdue taxes.
Information from: WWBT-TV, http://www.wwbt.com/