VALLEY CITY, N.D. (NewsDakota.com) – The Minnesota Soybean Processors cooperative is raising capital for the construction of a $287 million soybean processing plant in Spiritwood, North Dakota.
One of the investors is Wimbledon area farmer Mike Clemens. He talked about why this is a good investment.
Scott Austin is the CEO of Minnesota Soybean Processors. He said the plan is to have the plant up and running by 2019. An investors meeting was held in Valley City on July 13th. Austin said additional equity meetings will be held later this month including one on July 25th in Jamestown at the North Dakota Farmers Union office at 7pm.
The Spiritwood plant will be an integrated soybean crush facility and refinery, crushing 125,000 bushels of soybeans per day.
The plant would produce about 900,000 tons of soybean meal annually while supporting soybean prices paid to local farmers.
The Minnesota Soybean Processors cooperative owns and operates a soybean crush facility and biodiesel operation in Brewster, Minnesota.
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