Agricultural products and services provider Perdue AgriBusiness is preparing to launch a $59.1 million project to upgrade its facility in Chesapeake, VA and increase the location’s soy crush capabilities, Virginia Gov. Glenn Youngkin announced in a recent release. The investment will enable the firm to increase production of high-protein soybean meal, soybean oil, and hulls.

“We purchase grain from more than 700 farmers in Virginia annually, giving them a strong local market for their crops,” Perdue AgriBusiness president Scott Fredericksen said in a statement. “Renovating and expanding our Chesapeake operations will allow us to increase local origination and improve our processing capabilities, as well as enhance logistical efficiencies across our supply chain to continue meeting customer demand.”

Perdue’s existing operations in Chesapeake sends crude degummed soybean oil to the company’s oil refinery in Salisbury, MD for additional processing. Oils produced at the sites are sold to the biodiesel and food industries.

The site currently features grain storage facilities, a soy crush plant, and a deep-water vessel terminal with two berths, according to information on the company’s website. Two container terminals are also located nearby.

Gov. Youngkin approved a $500,000 performance-based grant to support the project.