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HIGH PLAINS PROCESSING AND BP BREAK GROUND ON $500 MILLION BIODIESEL PLANT IN SO. DAKOTA
Sep. 21, 2023
by Dominik Dausch, Sioux Falls Argus Leader
MITCHELL -- A subsidiary of South Dakota Soybean Processors is ready to take its first steps toward construction of a multi-million dollar seed processing facility.
High Plains Processing, LLC., was joined by investors, project partners and state agriculture leaders for a private groundbreaking ceremony at the site of the $500 million facility south of Mitchell.
The multi-seed crush plant, which SDSP first announced it would build in February 2022, will have the capacity to process 35 million bushels of soybeans annually or the equivalent of one million tons of high-oil content crops.
Craig Weber, board president of SDSP, said he expects the plant to be in operation in time for the state's harvest by fall 2025.
While the golden shovel ceremony provided the reason for the occasion, the highlight of the event came from the major announcement that High Plains Processing and BP, one of the world's largest companies by revenue, would be starting a joint venture to share ownership of the facility. Dual ownership of the plant will be shared between High Plains Partners, LLC and BP Products North America Inc, a subsidiary of BP.
"The investment by BP further strengthens our business plan by providing direct access and vision into the rapidly growing renewable fuels market," SDSP CEO Tom Kersting said.
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