August 5, 2005

China's Yili Group to invest US$132 million for market expansion

China's dairy giant, Yili Group, has announced an investment of RMB1.07 billion (US$132 million) as part of its market expansion plan in north-eastern and eastern China.

The company also said it would build six projects focusing on liquid milk production, in line with its current investment plan.

Yili Group's products are mainly sold in northern and southern China, according to the company's 2004 report.

However, RMB810 million would be invested in building new liquid milk, ice cream and sour milk projects in north-eastern and eastern China during the current fiscal year.