December 23, 2005

France's Louis Dreyfus plans new soybean plant in China

France-based Louis Dreyfus Group is in talks with the local government of Jinzhou City in China's eastern Liaoning province on investing US$15 million to build a soybean processing factory.

If completed, the factory would be able to process 600,000 tonnes of soybeans annually, with production valued at RMB1.6 billion (US$198.26 million), according to a press release sent by the information office of the Jinzhou Economic and Technical Development Zone to local media.

A seven-person delegation representing Louis Dreyfus, led by Chen Tao, chief representative of Louis Dreyfus China, visited Jinzhou city Monday to "investigate the factory site and talk about the details of the project with (officials of) the development zone and Jinzhou Port," the release said.

"The talks are ongoing," said Jin Qinhua of the zone's information office, declining to provide further details.

Chen Tao also declined to provide any details.