Interest rate lowered on $12.6M loan for Mitchell soybean plant project

Interest rate lowered on $12.6M loan for Mitchell soybean plant project

MITCHELL — In a move that will reduce the overall cost of the project, the interest rate on a $12.6 million loan for the High Plains Processing plant in Mitchell has been lowered from 2.95% to 2%. The adjustment, secured by the Davison County Railroad Authority, which also serves as the tax authority for the project, will help finance the construction of a 7-mile rail loop that is crucial for the plant’s operations. The Davison County Railroad A…