Indiana Soybean Processor Investing $31M in Expansion
Indiana-based soybean processor Consolidated Grain and Barge Co. (CGB) announced it is investing $31 million to expand its soybean processing operations at the Port of Indiana-Mount Vernon.
Originally constructed in 1997, the company’s current plant originally had the ability to process 65,000 bushels of soybeans per day into meal, oil, and hull pellets for both food and industrial applications. However, after this expansion is completed, the plant will be more than double its original size. Due to its geographic location, the plant is ideally situated to allow for inbound and outbound barge traffic in addition to rail, truck, and container shipping options. However, approximately 60 percent of the site’s production is shipped by barge through the Port of Indiana-Mount Vernon.
Headquartered outside of New Orleans, Louisiana, CGB is a joint venture between two Japanese companies – Itochu Corporation and ZEN-NOH, a consortium of agricultural co-ops. The company includes almost 100 grain elevators and terminals and 2,500 employees serving customers around the world.