ADM says working on carbon sequestration project
Jan 4 (Reuters) - Archer-Daniels-Midland Co (ADM.N: Quotazione) said it is working with the Midwest Geological Sequestration Consortium and the Illinois State Geological Survey on a $84.3 million carbon sequestration project.
The project will be funded by $66.7 million from the U.S. Department of Energy over a period of seven years, supplemented by cofunding from ADM and other corporate and state resources, the U.S. ethanol producer said in a statement.
The project, beginning in spring 2008, will involve the capture and storage of carbon dioxide from ADM's ethanol plant in Decatur, Illinois, it added. (Reporting by Dilipp S. Nag in Bangalore; Editing by Deepak Kannan)
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