Wed, August 19, 2009
Business > Industries

China to set up soybean plant with 1.2 mln tonnes capacity

2009-08-19 02:33:14 GMT2009-08-19 10:33:14 (Beijing Time)  Xinhua English

BEIJING, Aug. 19 (Xinhua) -- China National Cereals, Oils & Foodstuffs Corporation (COFCO), the country's largest oil and food producer, plans to build a soybean-processing plant in southwest China's Guangxi Zhuang Autonomous Region with a capacity of 1.2 million tonnes a year, said Wednesday's China Daily.

The newspaper said, citing sources familiar with the 1.85-billion-yuan (264.3-million-U.S. dollar) project, that construction is likely to start in September in Qinzhou, in the Beibu Gulf economic zone.

This is the second big soybean-processing factory built by COFCO. In April it opened a 4-billion-yuan oil-pressing project in Tianjin.

China's major edible oil producers, including Sino grain Oils & Fats Industrial Co and Jilin Grain Group, have also lined up plans to open new factories to boost capacity.

Per-capita edible oil consumption is 14.5 kilograms a year in China.

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