Grain and feed firm Mid-Iowa Cooperative announced plans for a new soybean crushing plant that will be constructed in the Butler Logistics Park near Shell Rock, IA. Once completed, the facility will be operated by its venture Shell Rock Roy Processing LLC (SRSP).
“This plant can supply both food and fuel needs, and it will bring Butler County and the surrounding areas into the center of the global ag economy,” the chief executive officer of Mid-Iowa, Mike Kinley, said in a recent company release.
The plant will be able to crush almost 40 million bu/yr of soybeans – about 110,000 bu/day – when the site becomes operational in 2022. SRSP will produce 847,000 tn/yr of soybean meal and 77,000 tn/yr of pelleted soybean hulls for livestock feed markets and 462 million lb/yr of crude soybean oil at the site.
“This soybean crush plant is a farmer’s dream,” Jeff Reints, a farmer from the Shell Rock area, said in a statement. “Our closest plant is more than an hour away, and it’s notorious for having 3- to 4-hour waits. SRSP will increase demand for soybeans in our area. More profit potential means farmers will likely add more soybeans to their crop rotation.”
Mid-Iowa is investing $270 million in the project and will own a portion of SRSP. The cooperative said it is currently looking for investors for the venture.
Up to 60 new jobs will be created as a result of the project. The company plans to break ground on the facility this month.