Soybeans. (file photo)

A new soybean-crushing plant is expected to be built in Buena Vista County near Alta. The facility will be run by Platinum Crush LLC.

“In and around Buena Vista County… (are) some of the best agriculture production in the United States if not the world,” said Mike Kinley, one of the developers, “and producers there would really benefit from having additional marketing opportunities in their backyard.”

Kinley says the project will cost $350-million. When the plant’s done, it’s expected to crush nearly 40 million soybean bushels annually.

“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,” Kinley said, “and they’re all in very high demand.”

Groundbreaking is slated for later this year. The plant is expected to become operational around March of 2024, and will create 50 to 60 jobs.

The Buena Vista County facility will be the second modern soybean processing facility in the state. Kinley is also leading the development of Shell Rock Soy Processing, which is under construction in Butler County.

(By Ryan Thompson, KAYL, Storm Lake)