Minneapolis’ Dougherty Funding closes loan for train-loading facility in North Dakota

November 04, 2011  |  Staff Writer  |  Print Article  |  Email this Article

Minneapolis’ Dougherty Funding recently closed a construction loan for the first phase of multiple-shipper train-loading facility in Dickinson, N.D.

The new project, the Bakken Oil Express Rail Hub, is connected to an existing regional oil pipeline and is currently accepting oil by trucks and pipelines. It began unit train loading and shipping operations Nov. 1.

The first phase of the terminal will include two rail loops, each about 8,000 feet long, and 210,000 barrels of tankage. It will also include a truck center with six independent bays. Initial loading capacity will be more than 100,000 barrels of oil a day. Additional development will provide the facility with an output of more than 250,000 barrels a day.

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