|
|
Article: PROPOSED N.D. ETHANOL PLANT RECEIVES $25 MILLION FEDERAL LOAN
- Article from:
- Renewable Fuel News
- Article date:
- October 11, 2004
- Author:
CopyrightCopyright Hart Energy Publishing, LP Oct 11, 2004. Provided by ProQuest LLC. (Hide copyright information)
|
A proposed ethanol plant in North Dakota recently received a $25 million federal loan guarantee, almost surely providing enough capital to make the proposed facility a reality.
Red Trail Energy, LLC is aiming to build a 50 million gal/yr ethanol plant in Richardton, N.D., using corn as its feedstock. The plant will use North Dakota lignite, a consolidated form of coal, to fire the boiler, heat the air, produce the steam, dry the co-product and generate the electricity.
After extending the deadline twice to raise the needed $78.2 million (see RFN, 8/16/04, p2), Red Trail recently extended it for a third time, to Oct. 31 (see RFN, 9/20/04, p6). The company is only approximately $4-$5 million ...