October 24, 2007

China's Tongliao Meihua invests RMB8 billion in new project

Tongliao Meihua Biological Sci-Tech Company, a wholly-owned subsidiary of Hebei's Meihua Group, has invested another RMB8 billion in a new project that will see it realizing an output of 400,000 tonnes of amino acid and 1.2 million tonnes of compound fertilizers annually.

When completed in 2011, the new project is expected to contribute RMB10 billion in annual sales, which will lift the company's total sales income to above RMB20 billion.

Tongliao Meihua's production facilities are located in the south zone of the Keerqin Industrial Park, Inner Mongolia. The company's existing production facilities, which cost RMB1.8 billion in initial investments, began operations in October last year.

Presently, the company's core business divisions include production of corn starch, amino acids, monosodium glutamate, organic fertilizers and feed yeast. Tongliao Meihua is a major exporter of monosodium glutamate.

RMB1=US$0.1332 (Oct 24)