JAMESTOWN (AP) - The developer of a 100 million gallon ethanol plant in the Spiritwood Energy Park near Jamestown says the plant is on hold.

Harold Newman of the Newman Group says that with the corn price at $7, the plant would lose 26 cents a gallon for a bushel of corn.

Water also is a problem. The State Water Commission says the aquifer in the Spiritwood area does not have enough capacity to provide water for the ethanol plant and for the Cargill malting plant, which has expanded.

Newman says he does not know when it might be possible to start building the ethanol plant. Grant and loan money is being held in escrow.