Kinley is also leading the development of Shell Rock Soy Processing (SRSP), which is under construction in Butler County, northeast Iowa.
The Platinum Crush plant near Alta will be built adjacent to the CN rail line, which will service the facility.
“CN is excited to see the next world-class soybean crushing plant select our network to deliver value-added agricultural products to consumers around the world,” said James Cairns, senior vice president, supply chain focused on rail, for CN Railway.
Platinum Crush will produce 847,000 tonnes of soybean meal per year (2,420 tonnes per day) for feed markets, 450 million pounds of crude soybean oil per year (1.28 million pounds per day) and 77,000 tonnes of granulated soybean hulls per year (220 tonnes per day). Soybean meal and soybean hulls (which contain highly digestible fiber) will be used in feed rations for livestock.
Platinum Crush’s soybean oil can be used for a variety of applications, including the human food industry and the growing renewable diesel bioenergy segment.
“Platinum Crush will add tremendous value to soybeans in Northwestern Iowa,” said Kinley, who noted that Ag Development Group and N Bowdish Company will own a portion of Platinum Crush. “By streamlining the supply chain, this plant will also save time and money for local soybean producers, and open a more direct relationship with the processor. “