Redfield Energy Says Support Building for Ethanol Plant
Posted on: Monday, 19 September 2005, 18:00 CDT
Sep. 17--Project organizers say the proposed Redfield ethanol plant is well on its way to becoming a reality.
After the $73.3 million project's first meeting to woo investors, officials with the newly formed Redfield Energy said they believe they will raise the necessary dollars for the project. Redfield Energy hopes to raise about half of the plant's cost from South Dakota investors.
"Redfield Energy raised an incredible amount of money at the meeting (in Watertown)," said Tom Branhan, chief executive officer of Redfield Energy. "We're thrilled with the support and response by South Dakotans and expect there to be continued enthusiasm for investment in the plant at upcoming meetings."
Two public meetings are scheduled for today in Redfield, at 10 a.m. and 2 p.m. Both will be held in the high school gym.
A public meeting is scheduled for 4 p.m. Monday at the Ramkota Hotel in Aberdeen. On Wednesday, Redfield Energy officials will be in Mitchell, to meet with potential investors at 4 p.m. at the Holiday Inn. At 4 p.m. Thursday, the company will be at Huron's Crossroads Hotel for its final investor meeting.
Redfield Energy's plant is set to be constructed on a 129-acre site adjacent to a Burlington Northern-Santa Fe rail line about two miles north of Redfield. The plant is expected to be up and running by December 2006.
The Redfield plant would produce 50 million gallons of ethanol annually, making it one of the largest plants in the state.
Branhan said ground will be broken for the Redfield plant in late October or early November.
It will employ 32-34 full-time workers, who will contribute $1.6 million in payroll alone to the local economy.
About 200 temporary construction jobs will be created by the construction phase of the project.
The plant will be a dry-mill facility that will have an annual capacity to process about 18 million bushels of corn into 50 million gallons of ethanol per year, according to Redfield Energy's Web site.
The plant also will produce approximately 160,000 tons of modified wet and dried distillers' grain for sale to local and West Coast markets.
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BNI,
Source: American News (Aberdeen, S.D.)
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