BEIJING — Cargill is setting up a subsidiary company in China called Cargill Food Technology Co. Ltd., which will be in the Pinghu Economic Development Zone in Jiaxing. Jiaxing is located in the Zhejiang province.

The plant, which will produce sweeteners for the soft drink industry in China, is expected to be operational in 2008 and have annual sales revenues of more than 300 million yuang. The total investment for the project will be about $27 million and registered capital will be around $11 million.

Cargill now has four operations in China that produce starches and sweeteners. Cerestar China Resources Maize Industry Co., Ltd. is a corn processing j.v. that produces starch glucose, dextrose, malto-dextrin and modified starch. It is located in Songyuan City. GBT-Cargill High Fructose Co., Ltd. is a j.v. between Cargill and Global Bio-Chem Technologies and produces high-fructose corn syrup and is located in Shanghai. Cargill has other fructose operations in Tianjin and Pinghu.