Berthold elevator partners with oil
Berthold, N.D., is partnering wheat with oil in a new venture that will double annual revenues for the Berthold Farmers Elevator. When the deluge of rain in 2011 prevented planting and harvest, the elevator sought out new side business to improve finances. It partnered with Enbridge, a major pipeline shipper in the Bakken, to expand the elevator’s rail access to load grain cars and oil tankers. The new facility will be completed in January and will allow 100 cars to be loaded a day. According to the elevator’s general manager, the deal will double net revenue to approximately $5 million per year. The elevator is half-owned by a farmer’s co-op and half-owned by Columba Grain of Portland, Ore.
The new venture for the elevator will expand the crew an additional 40 jobs. Read the story in the Bismarck Tribune.