::Biodiesel Plant Signs Lease With NC Ports
From Raleigh Chronicle Staff And Wire Reports
Monday, June 4, 2007
WILMINGTON, NC -- According to the NC Ports Authority, a new biodiesel plant may be located at the Wilmington port facility and a year long option lease has been signed.
The authority's Board of Directors Executive Committee voted unanimously to approve a lease to Kreido Wilmington, a subsidiary of Kreido Biofuels of Camarillo, California.
The port authority says that Kreido hopes to build a biodiesel fuel manufacturing facility at the Port's north end.
The port signed an approval of a one year option to lease 1.5 acres at the port and the
year's option provides a due diligence period for the company.
As described by the port authority, the company would potentially make B-100 biodiesel, a fuel generally made from vegetable oil which is nontoxic, biodegradable, and not considered a hazardous material. Raw resources to manufacture the biodiesel would be brought in through the port.
"According to reports in the Wilmington Star News, if Kreido Wilmington exercises its option and enters Executive committee approves deals for both Ports into a longer term lease to build a facility at the Port,
the company hopes to invest about $15 million initially and create 22 jobs," said the port authority in a released statement.
In addition, the port authority signed a lease with a Research Triangle Park firm by unanimous vote. The committee approved
a lease with Grancrete Inc., which is based in Research Triangle Park, for warehouse space and adjacent land at the Port of Morehead City.
"The company plans to import, store, blend and distribute a product similar to cement," said a statement from the port authority.
Both lease agreements will be presented for approval at the North Carolina Council of State's meeting June 5th, says the port. ::