September 21, 2007

Yihai to establish new company in China's Hebei

Yihai Group, which is jointly owned by Archer Daniels Midland and Singapore-based Wilmar International, will be setting up an oil and grains company in Quzhou, Hebei province.

Occupying an area of 2.7 hectares, this plant will cost RMB60 million in total investments (initial investment for the first phase of the project will cost RMB20 million).

When completed, it will facilitate the growth of Quzhou, a regional centre 50 km northeast of Handan, as a commercial grain trading and distribution centre.

RMB1=US$0.1331 (Sep 21)