WILLISTON, N.D. -- Foreign investors more familiar with projects in emerging markets in Eastern Europe and tropical escapes of Southeast Asia are finding a new destination for their dollars and francs: Western North Dakota's oil patch.
Government foreign investment initiative SelectUSA says the state has drawn at least 31 publicly announced foreign investment projects since 2003 worth more than $1 billion.
Now two foreign companies are planning a pair of large mixed-use oil patch developments worth $800 million.
Swiss firm Stropiq is planning a $500 million residential and commercial development in Williston. Company co-founder Terry Olin says the oil patch is similar to emerging markets overseas.
Singaporean firm Barons Group of Companies is plotting a $300 million project in Dickinson. Its other projects are in Malaysia, the Philippines and Indonesia.
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