ADM Building Large Soybean Processing Plant in ParADM today announced that it will increase its South American oilseedcrush capacity by more than 25 percent with the construction of a major newsoybean plant in Paraguay.
The new plant, with an anticipated daily crush capacity of3,300 metric tons, will be located adjacent to an ADM fertilizer-blending plantin Villeta, near the capital city of Asuncion, and will benefit from proximityto a nearby port facility on the Paraguay River. This location will increaselocal crop-origination and export capacity and enable the company to importfertilizer components more cost-effectively. Construction began in June and isexpected to be complete in 2012.
The project will create more than 150 permanent jobs, as wellas an estimated 500 jobs at peak construction.
The plant is part of ADM's strategy to increase crop-sourcingand processing capacity in South America's key growing regions. Soybeanproduction in Paraguay has been growing at an annual rate of 13 percent for thepast 10 years.
"This plant will link South America's productive farmers withthe world's growing demand for food and energy," said John Rice, executive vicepresident, Commercial and Production. "ADM will grow oilseed crush volumes overthe next five years at about double predicted market rate. We will achieve acompound annual growth rate of 7 to 10 percent through both organic growth andacquisitions."