Bunge to build plant with Sinograin in southern China
July 26, 2007
by Josh Sosland
WHITE PLAINS, N.Y. — Bunge Ltd. and Sinograin, the Chinese state-owned grain company, have established a joint venture that will build and operate a soy processing plant in southern China.
Bunge will hold a 65% stake in the venture, which will be located in Dongguan in the Guangdong Province in southeastern China, situated between Guangzhou and Hong Kong.
The plant, targeted for completion in 2008, will have daily processing capacity of 4,000 tonnes of soybeans and will be connected directly to discharge facilities at Dongguan port, utilizing Sinograin storage and conveyors.
"It will produce soybean meal for the large livestock production industry in Guangdong and soybean oil for nearby urban markets," Bunge said. "Guangdong Province boasts one of the highest per capita incomes in China."
The facility will be Bunge’s fourth in China and its first in southern China.