Apr 24, 2019 (China Knowledge) - US-based commodities giant Cargill Inc will be investing USD 112 million to expand the capacity of its corn processing facility in China’s Jilin province. The investment is also part of the company’s joint initiative with the Jilin local government to build the Sino-US Cargill Biotech Industrial Park.
The park which will be designed for both corn processing and trading will have an annual processing capacity of up to 2 million metric tons by 2020 and more warehouses to store commodities such as corn and starch will also be built in the future.
In additional, the proposed industrial park will also feature a food safety and technology center that will focus on testing, research and training in the field of food safety as well as process improvement and product development for the corn and food processing industry.
Moving forward, Cargill hopes to double its investment into China over the next 5 years in other food and bio-industry related segments hoping to benefit from the Chinese market size and supportive government policies.
Just last month, Cargill had also invested USD 40 million into Jiangxi province to build an animal-nutrition plant with an annual production capacity of 120,000 tons of premix and 60,000 tons of specialty animal feed.
Copyright © 2018 www.chinaknowledge.com
Send feedback or comments to: email@example.com
For more news, financial weekly reports, business guides to China and other premium information, subscribe to China Knowledge today: www.chinaknowledge.com
To access our page on Bloomberg, type CKFI