CHICAGO, ILLLINOIS, US — Archer Daniels Midland (ADM) on May 10 announced it will build North Dakota’s first-ever dedicated soybean crushing plant and refinery to meet fast-growing demand from food, feed, industrial and biofuel customers, including producers of renewable diesel.
Based in Spiritwood, North Dakota, US, the approximately $350 million crush and refining complex will feature state-of-the-art automation technology and have the capacity to process 150,000 bushels of soybeans per day.
Strategically located in a major soybean producing area, the facility will have access to both domestic and global markets for soybean oil and meal through ADM’s global logistics network.
The facility is expected to be complete prior to the 2023 harvest.
“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.”
US Senator John Hoeven said the state has worked with ADM officials for more than two years to make the plan come to fruition.
“We’re pleased that this new plant will be open in 2023, as it will provide a significant new market for North Dakota soybean growers, while creating good jobs and economic growth,” Hoeven said. “We appreciate the work of ADM, as well as the governor, the other members of the delegation and the Jamestown/Stutsman Development Corp. for their efforts on this exciting new opportunity.”
ADM also plans to invest approximately $25 million to expand refining and storage capacity at its crush and refining facility in Quincy, Illinois, US. The company said the project will fully align the location’s refining capabilities with its crush capacity and allow for greater flexibility in meeting the needs of ADM’s food, biofuel and industrial customers.
The expanded capacity is expected to be online by the first quarter of 2022.
“ADM has an unparalleled opportunity to lead our industry in this area, and thanks to our extensive operational and commercial expertise, we are well-positioned to add these shovel-ready projects to our network and meet the fast-growing needs of customers worldwide for lower carbon, plant-based solutions,” Morris added.
In its recently released first-quarter earnings report, operating profit in the Ag Services and Oilseeds segment increased 84% in the first quarter of fiscal 2021, climbing to $777 million from $422 million. Oilseed crushing profit soared to $382 million from $70 million.