Marathon Oil Corp. in ethanol plant joint venture

[JohnWxy]

http://houston.bizjournals.com/houston/stories/2006/11/13/daily39.html


Marathon Oil Corp. and The Andersons Inc. are set to begin construction of an ethanol plant in Greenville, Ohio, the first such project in a joint venture between the two companies.

The joint venture company, The Andersons Marathon Ethanol LLC, is 50 percent owned by Ohio-based agricultural industry company Andersons (NASDAQ:ANDE) and 50 percent by Marathon Petroleum Co. LLC, a wholly owned subsidiary of Houston-based Marathon Oil (NYSE: MRO).

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The facility will have the annual capacity to produce 110 million gallons of ethanol and 350,000 tons of distillers dried grain, an animal feed ingredient. The facility could be operational as soon as the first quarter of 2008, with 40 employees.