Photo: Platinum Crush LLC

Nov 02, 2021

Platinum Crush Selects Contractor for Processing Plant

Company receives zoning approval for soy crush project in Alta, IA

source: Platinum Crush LLC

The Buena Vista County Board of Supervisors has finalized the rezoning of the future site for Platinum Crush, LLC, the new soybean crushing plant that will be built near Alta, Iowa. The rezoning of agricultural land to industrial is a key milestone as the project begins to take shape.

Development partners Mike Kinley and Nick Bowdish joined forces earlier this year to develop Platinum Crush, the second modern soybean processing facility in Iowa.

“We appreciate the supervisors’ support and applaud them for their willingness to promote value-added agriculture in Iowa,” Bowdish says.

“Their leadership is essential to bring a project of this magnitude to fruition.”

The Iowa Lakes Corridor Development Corp. is another key partner for the $350 million plant.

“Local coordination from this team is keeping the project moving at a pace that will help us meet projected timelines,” Bowdish says.

Strong public support for Platinum Crush has been outstanding, he added.

“Thanks to the entire community for taking time to attend meetings, ask questions, and learn more about this new project. We’re grateful for the overwhelming support.”

Platinum Crush has selected Fagen, Inc. as the engineering, procurement and construction (EPC) contractor for the plant.

Construction is slated to start in the spring of 2022 and be completed mid-2024, pending state and local incentive package approvals.

“Fagen, Inc. is a great construction partner,” Kinley says. “They have a proven track record of building state-of-the-art facilities on time and on budget.”

When the plant becomes operational, it will crush 38.5 million bushels of soybeans annually, or 110,000 bushels daily. It will also create more than 50 high-quality jobs.

“We’re honored that Platinum Crush selected us to build this world-class facility,” says Chris Howard, CEO/president of Fagen, Inc. “Projects like these make a lasting, positive impact on the agricultural economy, both in Iowa and abroad.”

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Marketwatch: Oct, 02

US Corn Price Idx: ZCPAUS.CM

open: 6.6922
high: 6.8741
low: 6.6102
close: 6.6102

US Soybean Price Idx: ZSPAUS.CM

open: 13.6782
high: 13.7587
low: 13.1333
close: 13.1536

US Hard Red Winter Wheat Price Idx: KEPAUS.CM

open: 9.3697
high: 9.6472
low: 9.1747
close: 9.4272

US Soft Red Winter Wheat Price Idx: ZWPAUS.CM

open: 8.3873
high: 8.7783
low: 8.2498
close: 8.5389