Minnetonka-based Cargill Inc. has purchased Tate & Lyle's shuttered ethanol plant in Fort Dodge, Iowa, for $57 million.
United Kingdom-based Tate & Lyle halted construction on the $260 million plant when it was nearly complete in March 2009, citing a struggling ethanol market.
Cargill plans to make some modifications to the plant to increase its efficiency, and open it within 18 to 24 months, said Nicole Reichert, a Cargill spokeswoman.
MIKE HUGHLETT
