COSHOCTON, OHIO, U.S. — Coschocton Grain Co. will receive a federal no interest loan for its soybean processing plant project, the Coschoton Tribune reported.
The $2 million loan through the U.S. Department of Agriculture’s Rural Development program will help fund construction of the facility, which will sell products to area livestock and biodiesel producers.
The soybean plant is expected to be operational later this month with meal available in early August. Oil will be shipped to a biofuels refinery in Erie, Pennsylvania, U.S.
The facility expects to purchase grain from 900 local farmers in 22 Ohio counties, the newspaper said. The plant will use 3.36 million bushels of soybeans annually to produce 81,000 tons of soybean meal and 12,600 tons of soybean oil.