A $90 million ethanol plant proposed for Deniliquin in NSW and funded by Korean investors has received planning approval from the NSW Government.
Korean company, Dongmun Greentec, wants to build the $77m ethanol plant 6km south-west of Deniliquin, a town in the Riverina region near the Victorian boarder. The plant will be able to produce 10,000 kilolitres of ethanol a year, by operating around the clock to process 300,000 tonnes of locally grown wheat.
The company said the recent free trade deal with Korea, which removes a 20 per cent tariff on imported oil, has made the project a viable investment, as reported by Energy Business News.
Most of the output will be imported back to Korea
The plant is expected to generate at least 350 jobs in the construction phase, and 50 permanent jobs in the region.