Bunge North America is forming a joint venture with Chevron USA to create renewable feedstocks. Bunge has soybean processing plants in Louisiana and Illinois. There are plans to double the combined capacity of the two facilities to 7,000 tons per day by the end of 2024. Bunge will continue to operate these facilities, but Chevron will have the purchase rights for the oil to use to create renewable diesel. These agreements are subject to customary closing conditions, including regulatory approval.
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