Cereplast’s plans for the plant include a total capacity of approximately 100,000 tons, which is expected to occur in several phases.
The first phase of 50,000 tons is expected to start manufacturing in late-2012, and the second phase of 50,000 tons is planned to begin manufacturing in mid-2013.
The plant will be developed on the site of a former industrial plant and is expected to be approximately 125,000sq ft in size.
The plant will be owned and run by Cereplast Italia, a subsidiary of Cereplast, this venture will be financed through local and regional financing with Italian institutions and is expected to receive subsidies from various state and local agencies.
The initial investment is estimated to be about EUR10m ($14.84m) to EUR12m ($17.81m).
