Plans for a new ethanol plant is in the works for Port of Albany, which will cost as much as $350 million.
Developing the plant, which will be situated on 18 acres on the west bank of the Hudson River, will be Albany Renewable Energy LLC.
The company said the ethanol plant will be able to produce up to 110 million gallons of fuel yearly.
The project is awaiting permits from the state Department of Environmental Conservation before construction will be allowed to start. That will take anywhere from 6 to 12 months said officials from the company.
It's expected to be operational by the end of 2009.
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