North Dakota Soybean Processors Cancels Plans for Soybean Crushing Facility
After three years of planning and more than $6 million invested, North Dakota Soybean Processors (NDSP) has been forced to cancel its plans for a large-scale soybean crushing facility in Spiritwood, North Dakota.
The plant, which was to be located at the Spiritwood Energy Park, would have been the state’s first farmer-owned soybean crush facility. A statement by Bruce Hill, president of NDSP, explained that the site and plant engineering had been completed, construction contracts solicited, air permits secured, commitments and term sheet with producer partnerships was underway, and debt financing of $278 million to fund the project had all been in place when the SEPA board voted to terminate NDSP’s site contract.
Hill stated that this setback will be temporary - that the air permit can be amended, and that the site engineering is portable - and the group intends to move forward with its efforts to bring the first farmer-owned soybean crush plant to the State of North Dakota, though it won’t be in Spiritwood. Wherever it may be, once completed, NDSP’s new plant will have an annual crush capacity of 42 million bushels, and will produce approximately 935,000 tons of soybean meal, and 475 million pounds of soybean oil for sale on both the domestic and export animal feed and soybean oil markets.