October 19, 2006

Smithfield, ContiGroup to build beef processing plant in US

Smithfield Foods Inc's Smithfield Beef Group agreed to form a 50-50 venture with ContiGroup Co to build a US$200 million beef processing plant in Oklahoma, southern US.

Smithfield said the plant will create 2,500 to 3,000 jobs.

The company expects construction on the plant to start in January with completion scheduled for mid-2008.

At full capacity, the plant will be designed to process 5,000 head a day.