July 30, 2007

China's largest grain exchange center to be built in Hubei

China's largest grain exchange centre will be built in Wuhan, Hubei province.

The investment, totaling RMB 2 billion ( US$250 million) covers 13.3 hectares and is expected to be completed by 2010.

The exchange centre would house the National Grain Modern Logistics Base and the National Rice Exchange Centre and would have grain storage and transfer volume reaching 9.27 million tonnes a year. The grain port transfer farms would have a storage capacity of 7.77 million tonnes and the grain distribution centre would handle 1.5 million tonnes.

Its proximity to the Yangtze River and meant ideal transportation conditions for the centre.

The project, jointly invested by China Cereals Oils and Foods ( Group) Co., Ltd. (COFCO), Central China Grain Wholesale Market and Wuhan Investment Group for Economic Development would involve a state-level rice exchange center, a one-million-tonne food and oil wholesale market,

Other facilities include conventional food and oil deep and intensive processing areas.