Developers are preparing to construct a new, $350 million soybean crush plant near Alta, IA that will be capable of processing about 40 million bu/yr of soybeans into a range of products for food and fuel applications, local news organizations reported this week. Platinum Crush LLC will operate the facility once it is operational in 2024.
“The products that we’ll produce at the plant – soybean meal, soybean oil, and a fiber component, which is the hulls – all three products will be sold in the state, but also outside the state and exported around the world,” Mike Kinley, a developer participating in the project, told Radio Iowa.
Platinum Crush’s facility will be capable of supplying 847,000 tn of meal annually, as well as 450,000,000 lb of crude soybean oil, and 77,000 tn of pelleted soybean hulls, coverage by Storm Lake Radio said.
“This plant can supply both food and fuel needs. It will also bring Buena Vista County and the surrounding area into the center of the global food and fuel economy,” Kinley said in an account by Siouxland News.
About 60 new jobs will be created as a result of the investment.