11/5/06 (AP) — Archer Daniels Midland Co., one of the world's largest processors of oilseeds, corn and wheat, on Thursday said it will add a palm oil refinery with an annual capacity of 350,000 metric tons per year to its Hamburg, Germany, plant.

The expansion also adds 50,000 metric tons of additional storage capacity that will allow the plant to receive Panamax-size vessels. Panamax-size ships are those with the largest dimensions that will fit through the Panama Canal’s locks.

The plant is expected to be operational by 2007. With the addition, the Hamburg plant, which produces rapeseed, soy and palm oils, will become Europe's largest vegetable oil refinery, the company said.

ADM has more than 250 processing plants worldwide.