The Maumee, Ohio, grain titan said financial closing for the facility is expected soon.
"We are very pleased we are one step closer to begin construction on the Clymers ethanol facility," said CEO Mike Anderson. "When completed in the first quarter of 2007, the facility will have a capacity of 110 million gallons and will be the largest of its kind east of the Mississippi River."
The ethanol plant will be owned and operated by The Andersons Clymers Ethanol LLC. The Andersons will be the lead equity investor in the facility and, in addition to managing the facility, will provide grain origination, ethanol marketing, risk management and other services.
On Wednesday, The Andersons rose 91 cents to $56.91.