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NDSP signs letter of intent: Letter allows JSDC to transfer land to SEPA, authorizes applications for loans
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John M. Steiner / The Sun
Somewhere in this area south of Dakota Spirit AgEnergy near Spiritwood will be the future home of the North Dakota Soybean Processors plant. A letter of intent was signed Wednesday in Jamestown.
A letter of intent from North Dakota Soybean Processors to the Jamestown/Stutsman Development Corp. paves the way for the project to move to the next step.
Scott Austin, general manager for Minnesota Soybean Processors, was in Jamestown Wednesday to sign the letter of intent.
The planned plant has an estimated cost of $240 million and will crush about 42 million bushels of soybeans each year into soy oil for biofuels and other uses and produce soy meal. The plant will employ between 55 and 60 people when operational.
Connie Ova, CEO of the Jamestown/Stutsman Development Corp. and SEPA, said the letter of intent will allow the JSDC to transfer land it owns south of the SEPA industrial park to SEPA. The letter also authorizes applications for loans to construct additional rail loop capacity at SEPA and in the land where the North Dakota Soybean processors plant will be built.