Marathon to purchase Felda's 60 MMgy Cincinnati biodiesel plant
Marathon Petroleum Corp. has signed an agreement to purchase a facility in Cincinnati, Ohio, from Felda Iffco Sdn Bhd, Malaysia. The plant currently produces several products including biodiesel and glycerin. The capacity of the plant is 4,100 barrels per day (approximately 60 MMgy). The transaction is expected to close in April. The details of the transaction are not being disclosed.
“MPC has been a producer and large blender of ethanol for many years, and this acquisition will broaden our renewable fuels portfolio with a quality asset,” said Mike Palmer, senior vice president of supply distribution and planning. “We continue to grow our biodiesel blending volumes and this acquisition will be a natural value chain fit. Also, the facility is located in the heart of MPC's Midwest assets, providing efficiencies in our product supply logistics.”