The Davison County Regional Railroad Authority board voted unanimously Tuesday to seek an additional loan from the South Dakota Department of Transportation trust fund to pay for the balance of the $25-million dollar rail project at the High Plains Processing plant south of Mitchell.
Rail Board Member Mike Lauritsen says the project earlier received a low-interest $12.6-million dollar loan from the state. “Go back before the DOT board with our fingers-crossed, hoping that we’ll get another $12-million dollars in a low-interest loan to support this soybean plant,” said Lauritsen.
The Authority is scheduled to appear before the DOT Board on November 12th to make its case for the loan.
The $500-million dollar plant began operating earlier this month and is already exporting soybean meal to southeast Asia for livestock feed.