COFCO held a ceremony for the completion of its grain and oil processing project in Qinzhou Port, Guangxi Zhuang Autonomous Region, on April 18, 2011. The total investment is RMB 3 billion. The ceremony also marked the project successfully put to operation. Top offcials from the State Administration of Grain, the Government of Guangxi Zhuang Autonomous Region and COFCO attended the ceremony.

Mr. Frank Ning, Chairman of COFCO, first extended his gratitude to the support of the Government of Guangxi Zhuang Autonomous Region in the project in his speech. Then, as he said, the project was another important move made by COFCO in executing the whole value chain control strategy, safeguarding China’s grain security, serving agriculture, farmers and rural areas and promoting economic and social development of Guangxi Zhuang Autonomous Region. COFCO would lay out its grain and oil processing industry based on this project and expand it into an industry park radiating Southwest and Southeast Asian markets.

The project was located in Qinzhou Port Economic and Technology Development Zone on April 13, 2009, started construction in January 2010, and was put to trial operation on March 21, 2011. It only took 15 months from start to completion. The project covers about 51 acres. Its capacity will exceed 3 million tons a year. It has the storage capacity of 338,000 tons. It is equipped with a 50,000 ton quay berth and a special rail line. The project will mainly produce Fortune oils and Sihai soybean pallets and meal. Its market will cover provinces of Yunnan, Guizhou, Sichuan, Guangdong and Hianan, Chongqing Municipality, and ASEAN countries. The yearly sales are expected to exceed RMB 10 billion.