DENVER — Biofuel Energy Corp. said Thursday that construction problems will push back the start up of its first two ethanol plants by about 90 days.
Commercial production at the plants in Wood River, Neb., and Fairmont, Minn., is now expected by the end of the second quarter, the Denver-based company said.
Biofuel Energy CEO Scott H. Pearce said the company’s contractor The Industrial Company, or TIC, has been challenged by competition for workers and material amid a strong industrial construction market.
Biofuel Energy said that through Dec. 31, $258 million had been spent on construction. It expects to spend $55 million to $65 million more, excluding corporate overhead and financing charges.
Shares of Biofuel Energy rose 6 cents to close at $6.66 Thursday.
