Cargill JV Opens $100M Oilseed Plant in Northern China
A joint venture formed between Cargill, and China’s New Hope Group and Hebei Bohai Investment Group has officially launched Hebei Jiahao Grain & Oil Co. Ltd – a new $100 million oilseed processing plant located in Northern China.
Located in the Bohai New Development Area – the largest economic development zone on China’s east coast, the 21,000 square-meter plant is expected to have annual processing capacity of 1.32 million tons that will help meet demand in the region for high quality food products, help enhance the development of the local economy, and further the integration of the Beijing-Tianjin-Hebei regions.
Concurrent with the announcement of the opening of the plant, a second announcement was made proclaiming the opening of Hebei Jihai Port Co Ltd (Jihai Port), which operates a bulk and general cargo birth with a capacity of 100,000 tons. This port will provide the transportation and storage requirements of the new plant for both domestic and overseas shipments.