23 June 2011 20:48 [Source: ICIS news]
BUENOS AIRES (ICIS)--Noble Argentina, a subsidiary of Noble Grain, plans to build a biodiesel facility along with an energy co-generation plant in Timbues, Santa Fe province, a government source said on Thursday.
The company will invest $50m (€35m) in the plants, executives from the firm told Argentina President Cristina Fernandez, according to news media reports.
The new facility would mark another milestone in Noble’s drive to vertically integrate its business units.
Noble Grain has a crushing plant at its Timbues complex that processes over 10,000 tonnes/day of soybean, to produce soy oil, flour and pellets.
It has a stocking capacity of up to 800,000 tonnes of grain and by-products.
Since Noble began operations in Argentina in 2005, the firm has invested over $250m in its Timbues crushing complex, a port terminal in Lima, Buenos Aires province, and a stocking facility in Piquete Cabado, in the province of Salta, according t the Industry Ministry.
Argentina is one of the leading soy bean and soy oil exporters in the world. Its main soy producing complex is in the province of Santa Fe.
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