ADM firm on investment in 7 major capital projects : to invest US$2.6 bln

04-Mar-09

A grim economic outlook amid the global economic meltdown has not fazed Archer Daniels Midland Co. (ADM). ADM continues to remain unfazed in this challenging scenario and is committed to go ahead with its planned US$2.6 bln investment in 7 major capital projects, with the exception that that the completion dates for some of the projects have been pushed back from previous estimates. As part of the capital investment, ADM plans to go ahead with a 100,000 tpa propylene/ethylene glycol facility in Decatur, expected to be completed during Q4-2009. Project completion that was earlier planned for Q1-09, has been delayed by two quarters to November. A polyhydroxy alkanoate (PHA) facility has been planned in Clinton, Iowa, along with 2 ethanol plants in Nebraska and Iowa, a cocoa facility in Pennsylvania and 2 cogenerations facilities in Nebraska and Iowa. Construction of these plants is expected to be completed during the next two fiscal years.