Tyson's Dynamic Fuels Awards Contract
Last updated Thursday, August 21, 2008 1:24 PM CDT in Business
By THE MORNING NEWS
Dynamic Fuels LLC -- an equal joint venture between Tyson Foods Inc. and Tulsa-based Syntroleum Corp. -- selected L-Con Constructors of Houston as the lead contractor for its first renewable synthetic fuels facility in Geismar, La.
L-Con will provide engineering, procurement, and construction services to the project, the release said. Financial terms of the contract were not disclosed.
Analysts agree the awarding of the construction contract is a key milestone, putting the company one step closer to the final goal. The venture will convert low grade, inedible fats and greases into renewable synthetic diesel, jet and military fuel.
Construction of the Geismar plant is expected to begin this fall with completion targeted for the end of 2009. Once in operation, the plant is expected to produce about 75 million gallons of renewable synthetic fuel annually.
Syntroleum put aside all other projects to focus solely on the Dynamic Fuels venture, making its success central to the company's financial viability.
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