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Plans for Monroe City ethanol plant appear on hold

Wednesday, May 28, 2008

MONROE CITY, Mo. (AP) -- A $220 million ethanol plant in northeast Missouri's Monroe City may not materialize.

The developer's option on a 320-acre site has expired, and a sister facility elsewhere is also on hold.

Gulfstream Bioflex Energy announced plans for the plant in January 2007. But since then, corn prices have jumped dramatically, making ethanol a less attractive option.

Neither Gulfstream executives nor the company's attorney returned calls seeking comment.

The Monroe City plant would employ 55 people. It would take 16 months to build.

Information from: Hannibal Courier-Post, http://www.hannibal.net

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