Grain company Noble Argentina S. A. will build a state-of-the-art crushing plant capable of processing 2.7 million tons of soybeans a year, with support from a $75 million loan from the Inter-American Development Bank.

Additional financing for the $230-million project will be provided by Noble Argentina itself and other multilateral lending agencies, and may be complemented with loans from commercial banks.

The crushing plant will be located in the port of Timbues in the province of Santa Fe, one of Argentina’s leading agricultural regions. The plant will produce soybean oil, meal and pellets, adding value to grain exports that would otherwise be processed abroad.

As part of the project, Noble Argentina plans to generate energy for the crushing plant using wood chips produced in neighboring countries, supplementing the conventional sources of electricity.

“The IDB financing will help Argentina cement its position as a major player in the international market for soybean byproducts, as the new plant could generate more than $640 million a year in exports,” said IDB project team leader Martin Duhart.

Noble Argentina is an affiliate of the Hong Kong-based Noble Group Limited (NGL), an international commodities sourcing, processing and distribution company with operations in 40 countries on five continents.

The IDB is the leading source of long-term financing for economic and social development projects in Latin America and the Caribbean. Its Structured and Corporate Finance Department is responsible for non-sovereign guaranteed operations, which include loans and partial credit guarantees for private sector and state-owned businesses.