November 22, 2004

China's Linyi Shansong to Build Soy Processing Plant in Canada
 

Linyi Shansong Biological Products Co. of China agreed to set up a soy processing plant in Manitoba province of Canada, according to the Canadian provincial government.

Linyi is China's biggest producer of isolated soy protein, according to a report by Beijing Orient Agribusiness Consultant Ltd., an agriculture ministry affiliate. The company is based in Linyi city of the eastern Chinese province of Shandong.

Linyi Shansong will share the costs of study of setting up the plant with the Canadian government, the Manitoba government revealed. Details on the expected costs and time of completion were not provided.

Linyi Shansong expects to process soybean oil and export the products from the new factory to China, Beijing Orient said. China is the world's biggest buyer of soybeans.

Manitoba exported C$383 million ($319 million) of goods to China and Hong Kong in the first eight months, 191 percent higher than in 2003.