Home / Business / Food & Beverage Tools: Save | Print | E-mail | Most Read | Comment
COFCO's investment in NW Xinjiang to double in 5 years
Adjust font size:

Chairman Ning Gaoning of China National Cereals, Oils & Foodstuffs Corporation (COFCO), said Sunday the corporation's total investment in the northwestern Xinjiang Uygur Autonomous Region would reach 10 billion yuan (1.46 billion U.S. dollars) over the next five years.

Ning made the remarks during his visit to the Xinjiang-based subsidiary companies of the corporation, the country's largest oil and food producer.

Currently, COFCO's accumulative investment in the region is about 5 billion yuan, focused on tomato processing, sugar manufacturing, and beverages.

Ning said the corporation would double investment over the next five years due to confidence in the region's growth potential, but did not say for which the future investment would be targeted.

In 2005, COFCO made an investment in Xinjiang's Tunhe Investment Co., Ltd. by taking over a 37.2 percent share of Tunhe. So far COFCO Tunhe has become the largest tomato ketchup producer in Asia, and the second largest in the world.

(Xinhua News Agency September 28, 2009)

Tools: Save | Print | E-mail | Most Read Bookmark and Share
Pet Name
China Archives
Related >>
- COFCO Coca-Cola bottling plant starts construction
- COFCO buys into leading US pork firm
June 7 Tokyo 2nd China-Japan High-Level Economic Dialogu

June 30 Shanghai 2009 Automotive Engine Technology Seminar

September 8-12 Xiamen China Int'l Fair for Investment and Trade
- Output of Major Industrial Products
- Investment by Various Sectors
- Foreign Direct Investment by Country or Region
- National Price Index
- Value of Major Commodity Import
- Money Supply
- Exchange Rate and Foreign Exchange Reserve
- What does the China-Pakistan Free Trade Agreement cover?
- How to Set up a Foreign Capital Enterprise in China?
- How Does the VAT Works in China?
- How Much RMB or Foreign Currency Can Be Physically Carried Out of or Into China?
- What Is the Electrical Fitting in China?