The food and agribusiness major is set to complete the transaction by the end of June. Assets include 4.5m bushels of storage space for corn, soybeans and wheat.
The initial $3m investment will go towards construction of a 500,000 bushel storage bin and increasing the capability to ship 75-car unit trains.
“We look forward to notably increasing the competitiveness of this facility as a market for our future customers and connecting it to the extensive grain and oilseeds supply chains we serve,” said Ben Breazeale, leader of the Greater Indiana Farm Service group of Cargill AgHorizons US.
Cargill’s new ownership of these assets means farmers will gain a competitive market for their grain and expert crop input teams, Breazeale added.