S. Dakota soybean plant seeks investors

28-08-2007 | |

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.

 

Correspondents
More about



2/3 articles remaining | Register to continue reading.