July 9, 2007

China's Songyuan and France's Roquette jointly invest in new corn processing plant

Songyuan Group, based in the northern Chinese port city of Dalian, and France's Roquette Freres, one of the world's leading starch producers, have jointly invested RMB 2 billion in a 1.2 million tonnes/year corn processing plant in Nong'an district, Jilin province.

Scheduled for completion in three years' time, this plant will be able to produce 300,000 tonnes of corn starch, 100,000 tonnes of high fructose corn syrup and 20,000 tonnes of corn oil annually.

By-products from this plant will include 30,000 tonnes of corn gluten, 100,000 tonnes of fibre for use in livestock feed production as well as 20,000 tonnes of corn germ meal. This project is expected to generate RMB2.6 billion in revenue annually.

RMB1=0.1316 (Jul 9)