Tate & Lyle has unveiled plans for a GBP140m (US$260m) investment to construct the first phase of a new corn wet mill in Fort Dodge, Iowa.
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The facility will be built in two equal phases and will ultimately have a capacity of 300,000 bushels of corn per day. The investment is subject to obtaining the necessary regulatory approvals and negotiations with both state and local authorities.
This investment will capitalise on Tate & Lyle’s renewable ingredients capabilities, alleviate projected capacity constraints in the company’s value added starch facilities, and increase its participation in the rapidly growing US renewable fuel market.
The project will not result in any increase in Tate & Lyle’s high fructose corn syrup capacity in the US.
“This investment will double our ethanol capacity, producing environmental and energy saving benefits in the US and reducing American oil dependence,” said Iain Ferguson, chief executive of Tate & Lyle. “It will also enable us to increase production of higher value added food ingredients at our Sagamore facility.”
