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PROPOSED N.D. ETHANOL PLANT RECEIVES $25 MILLION FEDERAL LOAN

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 ...

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