Jul. 15--PEORIA -- It's now just a matter of securing loan guarantees and Biofuels Manufacturing of Illinois Inc. can break ground on a Mapleton biodiesel plant, the company CEO said Tuesday.

Sudhir Seth of BMI said the signature by Gov. Pat Quinn on the state capital funding bill on Monday -- granting BMI $5 million toward the construction of its plant -- "helps us to proceed with our plans. His signature on the bill was very important" to getting the guarantees from the Illinois Financing Authority.

He said he believes the plant will break ground before the end of summer or early fall at the latest. "As soon as we have everything in hand, we can go," Seth said.

BMI was established to develop and build the $40 million biodiesel plant. It will receive $5 million from the state toward the construction, and Seth said that should help secure bank financing for the rest of the construction costs.

The plant, which Seth said will take 12 to 15 months to build once ground is broken, will employ 25 people to start.

It is expected to produce 45 million gallons of biodiesel a year to start and later expand to 60 million gallons a year.

Plans for the plant have been ongoing more than two years, but BMI has been awaiting the capital spending bill and loan guarantees to proceed.

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