Yili launches major milk project in Hunlun Buir
An intelligent demonstration applications project was initiated by the Chinese dairy giant Yili Industrial Group and the Hulun Buir government in northeastern Inner Mongolia autonomous region on Nov 24.
The first phase of the project is expected to attract an investment of 2 billion yuan ($283.25 million).
According to the cooperation agreement, Yili will build a high-end liquid milk production plant and will occupy and operate large-scale pastures in Hunlun Buir, producing 530,000 tons of milk worth about 4 billion yuan annually.
The project will also boost the development of the local logistics, package and printing industries, officials said.
Hunlun Buir city boasts abundant natural resources and an advanced dairy industry. The region has placed great emphasis on the development of the sector and related industries over the past few decades.
The cooperation with Yili Group is part of the effort made by Hunlun Buir government to transform and upgrade the local dairy industry.
Yili Group has been one of the pivotal dairy enterprise in Inner Mongolia for many years, leading the path towards industrial modernization in the region.
It ranked third in the 2019 list of the Top 50 Most Valuable Food Brands in the World released by Brand Finance.
The company earned a net profit of nearly 4 billion yuan and a total operating revenue of 45.07 billion yuan in the first half of 2019, a year-on-year increase of 330 million yuan, according to the group's interim results released on Aug 29.
An intelligent demonstration applications project is launched by Yili Industrial Group and the Hulun Buir government in northeastern Inner Mongolia autonomous region on Nov 24. [Photo provided to chinadaily.com.cn]