Washington Group gets contracts for 3 ethanol plants

Boise, Idaho's Washington Group International (NYSE: WNG) received contracts from Kingston, Wash.-based E85 to build E85's first three ethanol production plants in the Midwest.

Washington Group, one of the world's largest construction and engineering firms, said the contracts are worth a total of approximately $150 million.

The company said it would provide procurement, construction, commissioning, and start-up services for the facilities in Wahoo, Neb., and Red Oak and Council Bluffs, Iowa.

"We're pleased to be a part of E85's plans to become a leading supplier of fuel-grade ethanol and to contribute to projects that will provide consumers with more energy alternatives," said Gary Baughman, president of Washington Group's Industrial/Process business unit.

Washington Group said each of the facilities would be capable of producing 110 million gallons of corn-based ethanol per year.

The plants are also expected to produce corn gluten feed and meal, corn germ, and wet and dry distiller grains with solubles.

"E85 sought a contractor capable of managing and delivering multiple projects on an aggressive schedule in today's challenging market, and Washington Group has demonstrated that they are committed to meeting our project goals," said James Callahan, president of E85.

Washington Group said work on the Wahoo plant started in late September, with construction on the other two plants scheduled to begin during the fourth quarter of 2007.

The company said E85 plans to invest over $750 million in the three facilities.

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