FRANKFORT, Ky. (AP) - Peabody Energy has joined with a second
company on a proposal to construct a three (B) billion-dollar
coal-gasification plant in Kentucky. State lawmakers want to lure
the plant here with some 300 (M) million dollars in tax breaks.
Peabody says 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.
Governor Fletcher, and leaders from the House and Senate are
scheduled to meet with Peabody President and Chief Executive
Officer Gregory Boyce in Louisville, Wednesday. Kentucky leaders
hope to get him to commit to building the plant in Kentucky.
(Copyright 2007 by The Associated Press. All Rights Reserved.)