CLAYPOOL, Ind. --- Indiana Gov. Mitch Daniels recently hosted a groundbreaking ceremony for a new biodiesel refinery that figures to be one of the largest in the world. The $150 million Louis Dreyfus Soybean Processing and Biodiesel Plant is expected to process nearly 50 million bushels of soybeans annually, according to a report from the Environmental News Service. The facility is under construction just southwest of Claypool in north-central Indiana. The facility is expected to produce over 1 million tons of soybean meal for livestock and poultry feed and 80 million gallons of biodiesel fuel. Construction is expected to take about 18 months. The company, Louis Dreyfus Commodities, also plans to build an ethanol plant in Norfolk, Neb.

Originally posted on Fleet Financials