Ethanol plant being built in Clatskanie

After several years of discussion, construction soon will begin on an ethanol plant in Clatskanie.

Berggruen Holdings said Wednesday it is building Cascade Grain Products, which is expected to become the largest ethanol plant on the West Coast.

Berggruen plans to construct and operate the first large-scale plant in the Pacific Northwest with a 113.4-million-gallon-per-year corn-based dry mill fuel-grade ethanol plant. The plant is designed by Delta T and will be constructed by JH Kelly LLC Ethanol, a joint venture between TIC and JH Kelly Construction.

Cascade Grain is the initial plant in Berggruen's strategy to construct a series of strategically located ethanol plants.

The facility is funded by a $100 million senior secured credit from WestLB, a German banking operation, and a $20 million loan from the Oregon Department Of Energy.

The plant will serve markets in Oregon, Washington, California, Alaska, Hawaii and the Pacific Rim.

Berggruen Holdings, based in New York City, is a private company investing internationally in an extensive range of asset classes on an opportunistic basis, including direct private equity, stocks and bonds, hedge funds, private equity funds, art and real estate.