Bunge on Dec. 15 announced plans to invest approximately $550 million to build a fully integrated soy protein concentrate (SPC) and textured soy protein concentrate (TSPC) facility.
Construction of the facility, which will be adjacent to and integrated with Bunge’s soybean processing plant in Morristown, Ind., is expected to start in the first quarter of 2023 and to be commissioned in mid-2025, creating around 70 full-time jobs.
It is expected to ultimately process close to an additional 4.5 million bushels of soybeans and to add scale, efficiencies, and non-GMO capability to the company’s existing US-based conventional SPC and TSPC operation in Bellevue, Ohio. Bunge also recently invested an additional $10 million to enhance its plant protein technical capabilities at the Creative Solutions Center near its St. Louis headquarters.