Alliance Media Group Holdings, Inc. announced today that through its subsidiary Carbolosic, LLC the Company has entered into an agreement with the United States Regional Economic Development Authority (USREDA) to provide up to $150,000,000 in debt funding for the construction of five (5) Cellulose to Sugar (CTS) plants in South Florida through the South Atlantic Regional Center (SARC).
USREDA is one of the largest and most respected processors of investment-based immigration (EB-5) programs. The agreement calls for the construction of five (5) Carblosic plants over the next several years starting with the first plant in rural Palm Beach County. Each plant costs approximately $30,000,000 in Capital Expenses and Licensing Fees and can produce more than $112,000,000 in revenues each year, at full capacity. USREDA has begun cultivating immigration investment through its offices in both China and South Florida. It is expected that the first plant could come online in by 2015.
"We are extremely excited to be partnered with USREDA on this project," said Company CEO Daniel de Liege. "They have a proven track record and a long history of success with funding EB-5 projects," he went on to say.
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