Rail News - Phillips 66 Acquires Interest In Soybean Processing Plant. For Railroad Career Professionals
Phillips 66 is securing feedstock for the company's growing portfolio of renewable fuels projects by investing in a new soybean processing plant in Iowa. The company’s investment gives it a minority ownership stake in Shell Rock Soy Processing, which is named after the nearby town in northeast Iowa where it will be built. The facility will be located in one of the top soybean production states, with rail options that will provide direct access to diverse markets, Phillips 66 officials said in a press release.