Gov. Doug Burgum today issued the following statement after Marathon Petroleum Corp. and ADM announced that Marathon will invest in ADM’s recently announced $350 million soybean processing plant at Spiritwood, N.D. The soybean crushing plant will provide soybean oil exclusively to Marathon’s renewable diesel facility in Dickinson.
Under the agreement, ADM will own 25% of the joint venture and Marathon will own 25%. When completed in 2023, the Spiritwood facility will source and process local soybeans and supply the soybean oil exclusively to Marathon – enough feedstock for about 75 million gallons of renewable diesel per year, the companies said.
“This agreement will add even more value to North Dakota-grown soybeans, providing benefits to our farmers, consumers and the economy and creating the potential for additional opportunities for ag feedstock to support renewable fuels,” said Burgum, who worked with Lt. Gov. Brent Sanford, ADM and local officials to help secure the state’s first soybean crush at Spiritwood and continues to promote opportunities for value-added partnerships between the agriculture and energy sectors. “We’re grateful to ADM and Marathon Petroleum Corp. for forming this partnership and to all the partners helping to bring this important project to fruition.”
The soybean crush will create 70 permanent jobs and process up to 150,000 bushels of soybeans per day, according to ADM.