China's Zhanjiang Guolian Aquatic Products Co. has signed a joint venture (JV) with an agribusiness group to invest CNY 200 million ($28m) in feed plants.
The plan with Dongling Holdings Group Co. to build feed capacity of as much as 300,000 metric tons is tied into Guolian's vision for going into offshore farming in Zhanjiang over the next five years, the company said. Guolian plans to invest as much as CNY 2 billion in this offshore move, as previously reported by Undercurrent News.
Guolian and Dongling, a big soybean processing group, plan for the first stage of the project to produce 60,000t of feed. The first phase will cost some CNY 50m, with Guolian putting in CNY 25.5m for 51% of the equity, according to Electro Deal Pro.
The second phase will see the project go to 200,000t and the third 300,000t [...]
Want to keep reading?
Sign up for a trial to have full access to our articles for 7 days!
Have an account? Log in here:
Enter the email address associated with your account. We'll send you instructions to reset your password.
We’ve sent a link to to change your password.
Please check your inbox to reset your password securely and easily.
