CP Group to invest $1.2 billion in North China
The private company and Chinese government work together to address demand.
Thailand's Charoen Pokphand Group (CP Group) and the Chinese government signed a deal on September 8 worth 7.9 billion Yuan (US$1.2 billion) for a food project in North China.
Under the deal, three integrated operations — a hen project with 3 million birds in stock, a broiler project with a 100-million-bird annual output and a hog project with 1 million head of annual production — will be built in Changchun, the capital of Jilin province, Li Yang, the company executive in charge of the project, told Poultry International.
Currently, CP Group is working with the Jilin authorities for a detailed plan, and is expected to launch the project this year, according to Li.
"After producing, we will sell shell eggs and pork across China in order to meet rising domestic demand," Li said. "While, for our broiler meat, 60-70% of them will be exported to Europe and Japan as cooked products, and the rest will be sold in China as fresh meat," he added.
Li also mentioned that the company may provide live pigs to China's leading slaughtering facilities such as Henan-based Shine way Group. But long-term, CP Group is eager to develop its own pork products.