June 12, 2012

COFCO's Chengdu Industrial Park Operational begins operations

Chengdu Industrial Park Operational, an industrial park built by China Oil and Food Corporation (COFCO) in Chengdu City's Tianfu new area has officially finished its construction and began operations on June 7.

Totally costing RMB2.2 billion (US$0.35 billion), this one-million-tonne agricultural product processing zone will yield output value totalling RMB8 billion (US$1.26 billion) and tax and profits totalling over RMB300 million (US$47.27 million) upon operation. The industrial park covers 1,253 mu (1mu = 666.67 square metres) of land. Projects such as wheat processing with annual capacity being 600,000 tonnes will be built in the park so that 1.5 million tonnes of grain and oil can be processed, 477,000 tonnes of grain and oil can be stored and 1.29 million tonnes of grain and oil traded in the park.

COFCO says that this new industrial park will develop together with grain and oil reserve and processing project built by China Grain Reserves Corporation so as to form an industry cluster. Thus, it will make Xinjin County of Chengdu City the top grain and oil processing base as well as distribution and trade centre in southwest China.