The facility will have the capacity to process over 50 million bushels of soybeans per year.
AGP’s chairman of the board, Lowell Wilson, said: “The soybean processing industry is experiencing tremendous growth and we believe a facility in East Central Nebraska is strategically located to serve our cooperative members and their farmer-owners.”
AGP’s primary operations are as a US soybean processor and refiner. It operates ten soybean processing plants across the Midwest. Its soybean meal is marketed to domestic and global customers. Soybean oil is further processed in AGP’s refineries for use in the food and biofuels sectors. The company also produces soy hulls and a soy bypass protein targeted at the dairy industry.
Other businesses include agricultural product trading in domestic and international markets and numerous US grain elevator operations. It is owned by local and regional cooperatives representing farmer-producers across the US.
Chris Schaffer, its CEO, said the chosen site location in Nebraska will also improve AGP’s ability to market soybean meal to the Pacific Rim through AGP’s export terminal in Aberdeen, Washington.
“AGP is currently considering investments that will significantly increase our export capabilities to meet the expected growth in domestic protein supply.”
The availability and quality of soybeans in the area and access to major rail lines make David City an excellent location for the plant, added AGPs’ chief marketing officer, Mark Sandeen.
“We are confident the David City facility will strengthen our market position and ability to compete well into the future.”
AGP expects operations to begin in 2025. It said that final construction decisions and timeline are contingent on negotiations with state and local officials regarding economic development incentives, required infrastructure improvements, utility services, and regulatory considerations.