NorthDakotaHomeTimes.com Your free local source for news, events, and business in and around Fargo, ND

(ELK POINT)-Hyperion Resources, a Dallas-based energy company is expected to move forward with the first oil refinery to be built in the US since 1976. The refinery is expected to be built  near Elk Point, South Dakota.

The company is expected to renew options on over 6,000 acres in Union County.

Earlier this month, the South Dakota Board of Minerals and Environment voted unanimously to issue the proposed plant an air permit.

In a news release, the company says that the plant will, " incorporate green principles in its every day functions and integrate only the most advanced commercially feasible emission control  technologies in its operations, as spelled out in the company’s Green Charter."

The project gained national prominence when it was the subject of a CNN Report, which followed  a battle between Union County residents over rezoning to build the plant.

The plant is expected to turn 400,000 barrels of Canadian oil into diesel, jet fuel and gasoline ever day.

The project is expected to cost $10 Billion. It is scheduled for construction in 2011 and to begin  operation in 2015.