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Indianapolis-based Countrymark Cooperative LLP today said it will spend $20 million to upgrade and expand its Mount Vernon oil refinery, which will boost production by 12 percent, or 45 million gallons.
The investment is intended to help counter a national gas shortage and an increase in demand for fuel, which together are driving up prices at the pump.
The co-op produces fuel used mainly by heavy-duty equipment, like that found on farms, and diesel engines.
The upgrades are expected to be completed next year.
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