Executive optimistic about coal-to-liquids loan

By: AP
By: AP

Casper, WY (AP) - An official with a company developing a facility to turn coal into gasoline and other fuels near Medicine Bow says he's once again optimistic the project could get a federal loan.

The Energy Department in 2009 approved DKRW Advanced Fuels' request for a $1.75 billion loan guarantee, pending an environmental review. The review process stalled and company officials said they'd largely given up on the federal financing.

Now, DKRW Executive Vice President Wade Cline says talks between the company and Energy Department have resumed since Ernest Moniz was named energy secretary last spring. A department spokeswoman declined to comment.

The Casper Star-Tribune reports the development could be a boost for the $2 billion project. Houston-based DKRW has struggled to obtain financing since it first proposed the plant in 2004.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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