Agreement with Cerilon GTL. Williams County:
- will provide a no-interest $6 million loan agreement
- three loan payments of $2 million each
- first won't be disbursed until company has executed a land purchase agreement (which could happen today)
- the second payment: March, 2022
- the third payment: July, 2022
- loan to be repaid in quarterly installments once commercial operations begin or after seven years, whichever comes first.
- for the $.28 billion gas-to-liquid plant in Trent, previously announced.
Construction to begin 2021.
Initial capacity: 24,000 bbls per day of ultra-low sulfur diesel and other specialty products.
About 80 full-time employees.
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