June 25, 2007

China's Hua Tian to invest RMB119.5 million in Inner Mongolian project

Chinese animal health company Hua Tian will invest RMB119.5 million in a pharmaceutical project in Chifeng city, Inner Mongolia. Fixed asset investment for this project will amount to RMB81.5 million while the remaining RMB38 million will be set aside as working capital.

Project construction will commence July 10 this year and is schedule for completion on July 30, 2008. The project comprises an animal health products plant, a traditional Chinese medicine extraction factory and another factory that specializes in producing chemical intermediates for manufacturing animal health products.

RMB1=US$0.1311 (Jun 25)