July 29, 2010

Former Panda Ethanol Hereford Plant May Have An Interested Buyer

According to the Amarillo Globe-News, Murphy Oil has shown some interest in the former Panda Ethanol plant located in Hereford, TX.

Murphy discussed the idea of a property tax reduction with the Deaf Smith County Commissioner's Court on Monday.

"They haven't specifically asked for anything, but they were talking about a tax abatement," said County Judge Tom Simons. "They said they'd be back in touch. I expect a proposal or request at that time."

The 100 million gallon per year Hereford plant was originally planned to be completed in 2008 but was plagued by construction delays. The Panda Ethanol subsidiary that owned the plant filed for bankruptcy in January 2009. In April 2009 the plant was sold to a group of creditors for $25 million. The plant is in the final stages of completion.

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