Shuangbaotai Group, a large national sized (top 500) corporation focused on the production of pig feeds and pig farming, have anounced plans for a joint venture with Baifuda Feed Co., Ltd., a Heilongjiang based feed producer, to establish a JV green feed mill. The feed mill is to have CNY150 million Yuan ($23.6 million USD) invested in it, and is to be located in Suihua City, Wangkui County, in Heilongjiang province.
The 1st stage of the joint venture will see the upgrade and expansion of the existing feed mill to bring it up to a production capacity of 240,000 metric tonnes per year, the 2nd stage of the joint venture plans will see a second feed mill built which will have a production capacity of 300,000 metric tonnes.
Annual output from the first stage is expected to reach CNY720 million with CNY5 million payable in taxes. The first stage upgrade and expansion is expected to be finished and operational by August this year. The second stage of the project which will see the construction of a new green feed mill, is planned to have a production capacity of 300,000 metric tonnes per year. Once both stages are completed, the joint venture feed mills will have an annual output of approximately CNY1.62 billion yuan in total.
