Peabody Energy has joined with a second company on a proposal to construct a three (b) billion dollar coal-gasification plant that Kentucky lawmakers want to lure to the state with some 300 (m) million dollars in tax breaks.
Peabody reported today that Conoco-Phillips would be a partner
in the project to convert coal to synthetic natural gas. The proposal is to build the plant near an existing Peabody mine in Illinois, Indiana or Kentucky. Feasibility studies are under way to determine the preferred location.
Peabody spokeswoman Beth Sutton says completion of the scoping
and feasibility analysis should be done within a year. She says a
final site selection will be based on that analysis.
Governor Fletcher, along with House and Senate leaders, are
scheduled to meet with Peabody President and Chief Executive
Officer Gregory Boyce in Louisville on Wednesday. They'll try to
persuade him to build the plant in Kentucky.