Platinum Crush receives zoning approval, selects Fagen to build soy-crush plant in Alta, Iowa
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 said. “Their leadership is essential to bring a project of this magnitude to fruition.”
The Iowa Lakes Corridor Development Corporation 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 said.
Strong public support for Platinum Crush has been outstanding, Bowdish added. “Thanks to the entire community for taking time to attend meetings, ask questions, and learn more about this new project,” he said. “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 is a great construction partner,” Kinley said. “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,” said Chris Howard, president and CEO of Fagen. “Projects like these make a lasting, positive impact on the agricultural economy, both in Iowa and abroad.”
Platinum Crush will produce high-protein soybean meal for the livestock industry and soybean oil that can be used for a variety of applications, including the human food industry and biobased diesel production.