October 5, 2012
China-based New Hope Group invests in feed plant in Medan, Indonesia
New Hope Group, the biggest China-based agribusiness, is planning to open an animal feed plant in Medan, North Sumatra with as much as US$100 million initial investment in order to strengthen its business in Indonesia.
According to the head of Investment and Promotion Board, Purnama Dewi says the board is planning to allocate it at Medan Industrial Area 2. Besides opening new jobs, New Hope also will use local products in the plant, so commodity markets such as corn and a number of other agricultural commodities are expected to grow.