North Dakota railroad board awards $3.5 million low interest loan for Ringneck project

In North Dakota, the State Railroad Board approved a $3.55 million loan at 2% interest towards building a rail spur for the planned $140 million Ringneck Energy ethanol plant in Onida, awarded to the Sully County rail authority. Originally the project sought $5.2 million but reduced the request. The loan has a 15-year amortization period and a balloon payment at seven years. Commissioning of the plant is currently expected during the second quarter of 2018.