Burgum Announces $350 million Soybean Processing Plant.
Now we're talking about progress!
Construction is to begin soon on a $350 million soybean crush and refining complex that will able to process a 150,000 bushels of soybeans per day. North Dakota's soybean output has been on the rise and the soybean market has recently been a positive for producers. ADM will locate the plant near Spiritwood, North Dakota. Spiritwood is near Jamestown and already is home to a Industrial Park with a coal-fired power plant recently built by Great River Energy in 2007.The area has been impacted by economic ups and downs in the ethanol markets.
ADM is projecting the new soybean processing plant will be open in 2023. In addition to the immediate increase in construction jobs, there will be an additional 70 permanent jobs created at the plant. The real, and hopefully real long term, benefits should be reaped by North Dakota soybean producers. ADM is quick to chirp about the "greeness" of the project with the potential of producing renewable diesel .
“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,” said Greg Morris, president of ADM’s Ag Services & Oilseeds business. “This exciting new project allows us to partner with North Dakota farmers to further advance the role of agriculture in addressing climate change through the production of low carbon feedstocks for products such as renewable diesel.”
With putting up that kind of money, ADM has certainly earned the right to shameless self promotional statements like these. Last year North Dakota was 9th in the nation in soybean production with over 190 million bushels. Now we have the means to benefit not just on the production end, but processing as well.
Nice job everybody!