Tianjin Zhongting Guotai Co – a manufacturer based in North China's Tianjin municipality – signed an agreement on March 21 to build a soybean pressing and soybean feed protein processing plant in the Jingjiang Economic and Technological Development Zone, located in Jingjiang city, East China's Jiangsu province.
The two sides sign the agreement in Jingjiang city. [Photo/Jingjiang Economic and Technological Development Zone via WeChat ZGJJKFQ]
Under the agreement, the company will invest 1.5 billion yuan ($208.3 million) to build production lines for soybean pressing and extraction. The plant will also refine and package edible oil, as well as produce feed-grade concentrated protein.
In addition, a grain-oil transportation line will be installed, along with a silo, oil tanks and other support facilities.
The facility is expected to generate invoiced sales of 2.5 billion yuan annually.
Hao Jingya, chairman of Zhongting Guotai Co, said the company would deepen its operations in the field of grain-oil processing and strive to be a front runner in the segmented market.
Meanwhile, Zhang Jingsong, deputy Party chief of the zone, mentioned that the zone will act to further improve its business environment and services to accelerate the progress of the new project.
The grain-oil industry is a traditional industry in Jingjiang city. In recent years, relying on the advantage of its proximity to the Yangtze River Delta – with its convenient river-sea intermodal transportation network – Jingjiang has attracted a group of State-owned enterprises and listed companies to explore more business opportunities there.
The city has formed a modern grain-oil processing and trade cluster that integrates transfers, storage and transportation, processing and trading.