A plan to build a coal to liquids plant in Medicine Bow took a major step forward. D-K-R-W Advanced Fuels has entered into a contract with Sinopec Engineering Group to build the facility.
D-K-R-W Executive Chairman Bob Kelly says he is now very optimistic that the project will become a reality.
“It’s a big step. It enables us to know go to the international banking and equity community and lay out the project economics. And our target is to finalize financing by the end of the year and the first quarter of 2013. And once that’s done, you are going into construction. ”
Kelly says this is project will do a lot for Wyoming.
“The CO-2 footprint of this gasoline is as competitive as any other gasoline that’s produced in the refining mix in the United States. So, it’s as clean as you can get it produced it’s done from coal, it’s done competitively and it’s a new market for coal. ”
Kelly says the project will provide up to 23-hundred construction jobs and 400 full time jobs in Wyoming. He says it will also help Wyoming’s coal industry survive and provide an important source of CO-2 that can be used to boost crude oil production.