NZ permits 2 Chinese dairy firms to invest
By Ding Yining |
April 4, 2013, Thursday
|
Print Edition
Print Edition
TWO Chinese dairy companies have been approved by New Zealand to build infant milk formula plants to meet rising demand for foreign formula brands.
Yesterday New Zealand's Overseas Investment Office said in a statement on its website it has given permission to Inner Mongolia Yili Industrial Group and Yashili New Zealand Dairy Co to buy land to build formula processing plants.
Yili got the nod to acquire land in South Island as a part of its 1.1 billion-yuan investment for the plant that is expected to have an annual capacity of 47,000 tons from 2016 to 2017.
Inner Mongolia Yili Industrial Group said at the end of last year that two wholly-owned units, Yili International Development Co Ltd and Hong Kong Jingang Trade Holding Co Ltd, would acquire New Zealand firm Oceania Dairy Ltd and build a 38-hectare plant.
Yashili New Zealand Dairy will invest NZ$212 million (US$179 million) to construct a plant in North Island.
Yesterday New Zealand's Overseas Investment Office said in a statement on its website it has given permission to Inner Mongolia Yili Industrial Group and Yashili New Zealand Dairy Co to buy land to build formula processing plants.
Yili got the nod to acquire land in South Island as a part of its 1.1 billion-yuan investment for the plant that is expected to have an annual capacity of 47,000 tons from 2016 to 2017.
Inner Mongolia Yili Industrial Group said at the end of last year that two wholly-owned units, Yili International Development Co Ltd and Hong Kong Jingang Trade Holding Co Ltd, would acquire New Zealand firm Oceania Dairy Ltd and build a 38-hectare plant.
Yashili New Zealand Dairy will invest NZ$212 million (US$179 million) to construct a plant in North Island.
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