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Bunge sells interest in Iowa ethanol plant
Bunge has sold its 25 percent interest in Southwest Iowa Renewable Energy (SIRE), an ethanol plant located in Council Bluffs, Iowa.
The move is not the end of the relationship, however. According to a joint news release, Bunge will continue to purchase all of the ethanol produced by SIRE and SIRE will also continue to lease rail cars from Bunge. SIRE will assume responsibility for originating corn and selling dried distillers grains produced by the plant.
SIRE’s other owners are primarily ag producers in southwest Iowa. The plant is permitted for annual production of 140 million gallons of ethanol.
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