BIZCHINA / Overseas Investment
Kiwi dairy lines up cow land in Hebei
(Shanghai Daily)
Updated: 2006-12-14 09:26
New Zealand-based Fonterra Cooperative Group said yesterday it will set
up a dairy farm in China to help boost the growth of its venture with
Shijiazhuang Sanlu Group Co in Hebei Province.
Fonterra is now in discussions with government authorities on the land
that will be used for 3,000 cows under a plan to start production in
October 2007.
A Sanlu Group representative surnamed Cui said the farm will be in
Tangshan, where several domestic dairy companies are already located.
Fonterra invested US$107 million for a 43 percent stake in Sanlu a year
ago.
Fonterra Milk Supply Director Barry Harris said in a statement that the
farming operation would use Fonterra's agricultural knowledge and
production expertise to provide quality milk for Sanlu and meet the
increasing demand for high-quality milk in China.
"China's dairy industry is expanding rapidly, and milk production is
expected to increase from 22 billion liters to 40 billion liters in seven
years," Harris said.
Fonterra holds a one-third share of the world dairy trade.
(For more biz stories, please visit Industry Updates)
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