A new $550 million soy protein facility will be built in Indiana to meet the rising demand for soybean oil and plant-based food products. Bunge Ltd, an agriculture commodities trader, will lead the investment and construction adjacent to their soybean processing plant in Morristown. With a processing capacity of 4.5 million bushels, the investment is part of a broader U.S. expansion of oilseed-processing capacity as soybean demand rises.

It is expected that the facility will be commissioned by mid-2025. Soybean demand has risen amidst renewed interest in soybean-based biodiesel and plant-based meats.

Read more on the new soybean processing plant here.