Loan likely for $150 million ethanol production plant in Bluffton

By Jenni Glenn, The Journal Gazette

The company planning to build a $150 million ethanol plant in Wells County found funding for the rest of the project, beating a county deadline by two weeks.

Mercantile Cos. has agreed to cover $22.1 million in subordinate debt for the ethanol plant that Indiana Bio-Energy LLC intends to build in Bluffton, Wells County Council President Pete Cole said. The County Council had asked the company to identify a lender by today.