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Biofuels company gets loan for Pontotoc plant


The Associated Press



PONTOTOC - Enerkem Corp. has obtained a conditional commitment for an $80 million loan from the U.S. Department of Agriculture for construction of its waste-to-biofuels plant in Pontotoc County. 




Enerkem, headquartered in Montreal, received a $50 million U.S. Department of Energy grant in 2009 to help build and operate the plant. The plant is expected to produce 10 million gallons of ethanol annually from sorted municipal solid waste. 




The project is expected to create more than 70 permanent jobs. 




The loan guarantee is part of the USDA 9003 Biorefinery Assistance Program.




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