HAMBURG (Reuters) - U.S. agribusiness giant Cargill [CARG.UL] confirmed on Tuesday it will develop its starches and sweeteners factory in Krefeld in Germany, changing the plant to wheat raw material from corn in a $200 million investment project.
The project had been announced in January 2018. No figures on plant production capacity or tonnage of wheat involved were given.
Construction will begin in early 2020 with completion expected by summer 2021, Cargill said in a statement.
The first deliveries of wheat-based products will start in autumn 2021.
The Krefeld plant currently produces starches and sweeteners from the raw material corn for the food and technical industries including marmalades, jams, sweets, chewing gum and custard powder.
“The increasing demand for protein rich foods driven by the growing world population and the rising need for industrial starches in the packaging industry are driving the need for vegetable proteins and specialized starches,” Cargill said.
By transforming the site from corn to wheat Cargill said it can add wheat proteins and specialized starches to its portfolio.
The new unit, which will be built on the current factory site, will meet high standards of reliability and sustainability, it said.
Reporting by Michael Hogan, editing by Ed Osmond