December 19, 2006

China's Dacheng to build US$1.5 billion corn processing plant

China's Changchun Dacheng Group plans to invest RMB 12 billion (USUS$1.53 billion) to for a corn processing facility in Heilongjiang province in the north-east, the company said Monday.

Dacheng Group said the projected plant will have an annual capacity to process 2 million tonnes of corn into various products including crystalline dextrose, polyols and glutamic acid. All three products are raw materials used in the food, textile and chemical industries.

The construction of facility will begin in 2007 and will last for four to five years, it added.

Changchun Dacheng Group, headquartered in Jilin province - China's largest corn growing region - is the largest corn processor in Asia, with a capacity of 3 million tonnes a year.