Cargill joins venture to expand grain elevator

Cargill Inc. and Agrex Inc. have entered a 50-50 joint venture to expand an Indiana grain elevator at a cost of $20 million, according to reports.
The expansion will triple the unloading and warehouse capacity for corn, soybeans and wheat being handled by the elevator. Rail track space will increase from 65 cars to 90 cars and rail capacity will expand to 50,000 bushels per hour (from 20,000 bushels). Grain drying capacity will be quadrupled.
The expansion is expected to be completed by the fall 2013 harvest.