Bunge to Invest $445M on Expansion of Soybean Crushing Plant in Morristown, Indiana
Bunge North America is planning to invest $445 million to fund the expansion of its soybean crushing plant in Morristown, Indiana, which is expected to result in 70 new jobs by the end of 2025.
The existing site opened in 1995 on 110 acres, and currently has the capacity to process 60,000 truckloads of soybeans per year into soybean oil and animal feed. Bunge acquired the plant in 2010 from Morristown Grain Co., and stated during a planned commission meeting earlier this year that it intends to process a new type of soy meal to be used in the production of plant-based meat products.
Through the project, the company will invest $360 million in new equipment and machinery, and an additional $85 million on construction and building improvement at the site.
Last month, Bunge signed an incentive agreement with the Indiana Economic Development Corp. giving the company $1.75 million in tax credits if it meets pre-set hiring and investment goals.