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US and Taiwan Companies Join Investment in Guangdong
Cargill, the world's largest cereal product provider, will inject 120 million US dollars into building a soybean plant in Dongguan, Guangdong Province in south China, along with Taiwan's largest food company, President Group.
The two companies will equally divide their shares in the newly established company, President Cargill Fodder Protein Co., whose annual processing capacity is designed at one million tons of soybeans.
"This will be Cargill's largest investment project in China," said Robert McRae, president of Cargill's Asia-Pacific Region.
McRae said this signifies Cargill's long-term investment strategy in China.
Cargill is the largest purchaser of China's corn products, and its annual trade with China's mainland has averaged one billion US dollars in recent years.
Since the Taiwan President Group entered the inland market 10 years ago, it has set up 45 companies. Guangdong has been its major investment market due to its convenient location.
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