November 22, 2010
Global Dairy to build dairy farm in Heilongjiang
Global Dairy recently announced the construction plan of a dairy farm by Changqing Dairy, an indirect wholly-owned subsidiary of Global Dairy, in Erhe Township in Wuchang City centre, Heilongjiang Province.
Global Dairy will use around HK$350.9 million (US$45.2 million) of the net proceeds from the global offering to fund the project which will comprise about RMB300 million (US$45 million) for the acquisition of the land use rights of the required parcel of land, the construction of the dairy farm and the purchase of dairy cows.
The Global Dairy Group will also pour about RMB40 million (US$6million) for the construction of a bio-organic fertilisers and biogas power generation facility for the dairy farm.
