Celestial NutriFoods sets up China JV to produce biodiesel

Celestial NutriFoods sets up China JV to produce biodiesel
Channel News Asia - Singapore
By Loh Kim Chin, Channel NewsAsia | Posted: 26 September 2006 2011 hrs. The joint venture will build a plant in the soybean zone ...

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Celestial NutriFoods is setting up a joint venture in China to produce biodiesel.

The joint venture will build a plant in the soybean zone of Daqing City in the Heilongjiang Province of China.

The plant is expected to have an annual production capacity of 100,000 tonnes and production will begin at the end of next year.

Celestial will take an 80 percent stake in the joint venture.

The total investment in the joint venture including land, plant and buildings, machinery and equipment, technology and working capital is estimated at 526 million renminbi, or S$102 million.
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