China's COFCO to build grain storage plant in Tianjin

China's largest state-owned grain trading firm, COFCO, has begun construction work on its grain and edible oil storage facilities in Tianjin, the Xinhua news agency reported on Wednesday (Apr 29).

With a total investment of RMB4 billion (US$586.1 million), the initial stage of the plant will consist of a 220,000-tonne storage facility, oilseed crushing facilities, a berth and a railway line.

The report added that the new plant will process six million tonnes of oilseed annually, thereby increasing COFCO's oilseed crushing capacity to 15 million tonnes from the current eight million tonnes.