July 5, 2012
CP invests US$27 million for modern feed mill in China
A signing ceremony for a CNY170 million (US$27 million) investment in a 360,000 tonnes per annum modern feed mill has been held last week by Charoen Pokphand Group (CP), known in China as Chia Tai Group.
The feed mill to be located in Chengcheng county, Shaanxi and is set to become the province's largest and highest standard feed mill, claiming to be state-of-the-art and of a world-class level.
It is understood that the Chia Tai Group will also invest CNY450 million (US$71 million), for the establishment of a pig breeding base capable of one million heads; CNY150 million (US$24 million), for the establishment of a poultry facility with hatchery and a production output of the slaughter of two million layer hens per annum; CNY2.56 billion (US$403 million) of investment in the construction of a facility for the slaughter of 50 million birds broiler industry project; a 200 scale boar station; and an experimental layers farm.
In total the overall project investment is projected to be CNY3.35 billion (US$527 million). On completion the project is expected to have annual sales income of CNY2 billion (US$315 million), and employ approximately 5,000 people.