Global agribusiness Cargill and Chinese New Hope Group and Hebei Bohai Investment Group have brought online a US$100M oilseeds processing plant in China, Cargill announced on 24 April.
The Hebei Jiahao Grain & Oil Co Ltd plant, located in the Bohai New Development Area in Huanghua, Cangzhou in Hebei province, had the capacity to process 1.32M tonnes/year of oilseed.
The finished products from the plant would include high quality oil products and animal feed, which would help meet the growing demand for food products from the population of 300M in northern China, Cargill said.
“With the consumption upgrading in China, we hope to meet the market demand for quality and nutritious food by leveraging out integrated supply chain that comprises both agriculture and animal husbandry,” said Angelu Liu, board member of New Hope Group and chair of New Hope Liuhe Co Ltd.
In addition to the oilseed processing facility, the three companies have also opened the Hebei Jihai Port Co Ltd, which will manage a bulk and general cargo berth with a capacity of 100,000 tonnes.
The Jihai Port would serve the transportation and storage needs of the new plant for both domestic and international markets.
Total investments in the Jihai Port had exceeded US$100M, Cargill said.
Cargill already has three oilseed processing plants in China, all situated in southern China and the Yangtze River delta.