ZAANDAM, THE NETHERLANDS — Bunge Ltd., a global leader in oilseeds processing, marked the start of construction of its new sustainable production facility in the Port of Amsterdam with a first pile ceremony on Dec. 8.

Expected to be completed in 2025, the plant will replace the Maasvlakte refinery in Rotterdam that Bunge sold to Neste Corp. at the end of 2020. In addition, production at the company’s location in Wormerveer will shift to the Port of Amsterdam facility in phases after completion.

Bunge Loders Croklaan, the plant-based lipids business of St. Louis-based Bunge Ltd., said it would invest more than €300 million ($346.5 million) to build the new facility on the HoogTij industrial area of the Port of Amsterdam when the project was announced in November 2021.

The new facility is the next step in optimizing Bunge’s European asset footprint and also will provide greater operational flexibility and efficiency, the company said.

“The new factory is built according to the latest technological standards, resulting in a highly efficient and sustainable factory, which will start production in 2026,” said David Vandermeersch, vice president, EMEA, for Bunge. “We aim for direct energy savings of 40% and a CO2 reduction of 90% by 2030. I am extremely proud of the project team who worked diligently to get us to this important milestone and am thankful for the government agencies we have worked with in close partnership.”

King’s Commissioner Arthur van Dijk, who also attended the first pile ceremony, said the facility would be an important step in the transition to a sustainable industry in the region.

“I am proud that the province of North Holland has been chosen as the location,” Mr. Dijk said. “This preserves knowledge and innovation for the region. The old factory site on the Zaan will be put up for sale, and the current destination will transition from industrial to mixed-use property. That’s good news for the province. Such a process has many challenges and requires good and intensive cooperation, perseverance, courage and trust. We all face the difficult task of making the transition to a sustainable and circular economy.”