US – Archer Daniels Midland (ADM) has announced that it will invest approximately US$350 million to build a new soybean crushing plant in North Dakota, US.
The leading multinational food processing and commodities trading corporation said the new soybean plant will cater to increasing demand from the food, feed and biofuel industries.
Based in Spiritwood, the crush and refining complex will reportedly feature ‘state-of-the-art’ automation technology and will have the capacity to process 150,000 bushels of soybeans per day.
Construction of the facility, which ADM says is ‘strategically located’ in a major soybean producing area, is expected to be completed in 2023.
ADM further notes that ADM’s global logistics network will enable a consistent supply of materials for the facility.
ADM has also announced plans to invest approximately US$25 million to expand refining and storage capacity at its crush and refining facility in Quincy, Illinois.
The Quincy site expansion is expected to be completed by the first quarter of 2022.
Greg Morris, president of ADM’s Ag Services & Oilseeds business, said: “ADM’s commitment to preserving and protecting our planet’s resources stretches from the farm gate to the food on our tables and the renewable fuel we put in our vehicles.
“Thanks to our extensive operational and commercial expertise, we are well-positioned to add these shovel-ready projects to our network and meet the fast-growing needs of customers worldwide for lower carbon, plant-based solutions.”
Earlier in April, ADM’s competitor in agricultural commodity trading, Cargill announced plans to invest US$25 million to improve production capacity at its soybean processing plant in Fayetteville.
The agricultural commodities giant said it plans to invest US$5 million in real estate improvements and US$20 million in new personal property. The project is set to begin before the end of 2021.
The announcement regarding Cargill’s expansion in North Carolina comes a little less than two months after the US-based agribusiness giant said it would be expanding its US soy processing operations with a US$475 million investment to modernize and develop crush facilities in seven states.
Once completed, the improvements which include faster unloading of oilseeds and loading of products and increased capacity are expected to increase operational efficiency, provide additional market opportunities, and better overall logistics, safety and ease of doing business.
Liked this article? Subscribe to Food Business Africa News, our regular email newsletters with the latest news insights from Africa and the World’s food and agro industry. SUBSCRIBE HERE
