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Proposed Coal-to-Gas Plant Backed by WV EDA

The state Economic Development Authority is backing a proposed $4 billion plant to convert coal to gasoline.

Project manager Randy Harris says the agency's board voted Thursday to authorize developer TransGas Development Systems to sell up to $3 billion in revenue bonds for the project.

Since TransGas plans to sell taxable bonds and use private insurance, Harris says the company didn't really need state approval. But the vote means the agency considers the project viable and allows the it to work with TransGas.

Harris says TransGas probably will sell its first bonds near the end of the year. Construction is scheduled to start in July.

The plant near Wharncliffe in Mingo County is expected to convert coal into 756,000 gallons of gasoline a day.

©2011 The Associated Press. All rights reserved.

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