China's TrueIn Group plans to build an industrialized pork production base in Ulanqab, Inner Mongolia. The complex is expected to have an annual production capacity of 3 million head.
TrueIn Group announced its intent to construct the facility on May 8.
In addition to building facilities to raise the pigs, the company will also construct a feed production plant, slaughtering facilities, a meat processing plant, an organic fertilizer plant, and a 15,000 mu (2,471 acre) plantation to grow willow trees and other crops, according to a report provided by Smart Agriculture Analytics.
TrueIn Group, according to its announcement, will create a subsidiary called TrueIn Group (Inner Mongolia) Co., Ltd., with CNY2 million (US$330,000) in registered capital which will be responsible for the new project. Total investment for the project will amount to RMB 4.311 billion (US$710 million) and will be funded by TrueIn and its partners.
The project is expected to be completed within a 5-year time frame, and once it is operational, it is expected to bring in an annual income of CNY5.102 billion and an annual profit of CNY699 million. Taxes generated by the project will reach CNY656 million annually. The period for return on investment is projected at about 3.5 years.