News last update:6 Aug 2012

S. Dakota soybean plant seeks investors

Two years ago Coteau Hills Processors started plans to build a new plant. Now they are looking for investors to realise a $30 million crushing unit.

An equity drive is planned late in August to raise about half the money needed to build a $28 million to $30 million soybean crushing plant near Webster in South Dakota.

Coteau Hills Processors LLC of Webster hopes to raise $11 million to $16.5 million from investors, said Chairman Don Wolter. The rest of the project would be financed through traditional lenders such as banks, he said.

Third plant
South Dakota has a soybean processing plant near Volga. Another group wants to build one in the Miller area.The company began working on its soybean proposal more than two years ago.

The plan calls for processing 500 tons of beans daily to produce soybean meal for cattle feed, soybean oil for human consumption and refined oil for biodiesel use.

Site work is scheduled to begin in October, subject to financing. The plant would employ about 25 when fully operational.


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