SHANGHAI, CHINA — Cargill on April 23 said it plans to invest $112 million to expand capacity at its corn processing facility in China’s northeastern province of Jilin.
The plant in Songyuan city is part of a bigger project being jointly built with the local government called the Sino-U.S. Cargill Biotech Industrial Park, Cargill said.
The park aims to have an annual corn processing capacity of up to 2 million tonnes by 2020.
Cargill said it also would set up a center in the park to carry out research and training on food safety and improve product development for food ingredients.
Cargill hopes to double its investment in China over the next five years, the China Daily quoted Cargill chairman and chief executive Dave MacLennan as saying.
“China is a crucial market with amazing vitality,” MacLennan told the China Daily. “We will continue to work as partners with China to build sustainable agriculture and invest in rural areas.”