March 8, 2011

 

New Hope Group to set up feed plant in Egypt

 


New Hope Group, parent company of Sichuan New Hope Agribusiness Co Ltd, plans to build a feed plant in Egypt this year, the group's chairman Liu Yonghao said.

 

Inspections are now being carried out in Egypt, and the plant should start construction soon if political instability eases, said the chairman.

 

New Hope Group aims to build 15 to 20 overseas plants or about four annually in the next five years, expanding from the Southeast Asia to South Asia, Central Africa and some developing countries in Central Europe.

 

By far, the group has built 12 feed plants abroad including Vietnam, Cambodia, the Philippines and Indonesia, among others.


In addition, the group will enlarge overseas mergers and acquisitions. It recently joined hands with Agria Corp to acquire PGG Wrightson, the largest agricultural service company in New Zealand, which is pending for approval from governments of both countries.