Perdue AgriBusiness will invest $59.1 million to expand its operation in Chesapeake, Virginia. The company will modernize facilities and increase production of its high protein soybean meal, soybean oil, and hulls, positioning the company to expand its soybean crushing capability to include other high-oil content products.
Perdue purchases 80% of Virginia’s soybeans and exports 72 million tons of soybeans per year through the Port of Virginia. The Chesapeake facility supplies crude degummed soybean oil to Perdue’s Salisbury, Maryland oil refinery for further processing and sales to the food industry as well as supplying the biodiesel industry globally.
“We purchase grain from more than 700 farmers in Virginia annually, giving them a strong local market for their crops,” said Scott Fredericksen, president of Perdue AgriBusiness. “Renovating and expanding our Chesapeake operations will allow us to increase local origination and improve our processing capabilities, as well as enhance logistical efficiencies across our supply chain to continue meeting customer demand. As a proud employer in the state, we look forward to many more years of success and growth at our operations in Chesapeake.”
“When industry leaders reinvest in Virginia, it is a strong endorsement of the many attributes that make our Commonwealth a best-in-class business location,” said Virginia governor, Glenn Youngkin. “Perdue AgriBusiness is a valued employer in Chesapeake and a major contributor to Virginia farmers’ livelihoods, and we look forward to its continued growth trajectory with the modernization and expansion of this facility.”
“Virginia’s transportation infrastructure is essential to getting Perdue AgriBusiness’ soybeans and other high-oil content products where they need to go. The two Class I railroads, our interstate network, inland port, and barge service to Richmond enable cargo to move efficiently through the Port of Virginia,” said Secretary of Transportation, Shep Miller. “Last year, while other ports around the country were riddled with supply chain issues, the Port of Virginia had its most productive fiscal year yet, processing more than 3.2 million twenty-foot equivalent units. The Port of Virginia is a best-in-class asset for the Commonwealth.”