November 27, 2008

Singapore-based Yihai (Zhoukou) Oils & Grains face restriction in land acquisition


Yihai (Zhoukou) Oils & Grains Industries Co. Ltd. is likely not to gain regulatory approval to buy more lands in Zhoukou City, Henan Province, North China, in the future.


This follows China's plan to rein in development of foreign oil and grain companies to secure domestic supply and stabilise prices. Other foreign grain and oil companies in Zhoukou city will face the same restriction.


Yihai (Zhoukou) Oils & Grains Industries said that the company had not been informed about the aforesaid matter and had no land purchase plans currently.


The company now has 20 hectares of land in Zhoukou City. It kicked off a project in 2008 to lift its daily soy crushing capacity to 2,600 tonnes of soy and refining capacity to at least 1,000 tonnes as well as double its storage capacity to 60,000 tonnes.


Yihai (Zhoukou) Oils & Grains Industries is under the wing of Singapore-based agricultural conglomerate Wilmar International Limited.

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