Glacial Lakes Energy, LLC is temporarily suspending any further construction on The Missouri Valley Ethanol plant in Meckling, S.D.
The company cited sharply lower ethanol prices, higher corn cost and increased construction costs.
"We will continue to explore funding and other opportunities for this project, and we continue to believe that the long-term future of the ethanol industry and of our Meckling project remains bright," says Tom Branhan, CEO of Glacial Lakes.
The cooperative – which has 4,000 members – will continue work to double the capacity of its 50-million gallon ethanol plant in Watertown, S.D. and to build a new 100-million gallon ethanol plant near Aberdeen, S.D. Those projects are expected to be done by the end of this year and in the spring of 2008, respectively.