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CHINA: China Sun Bio-Chem Technology is acquiring a corn starch plant for 300 million renminbi or S$59 million.
The plant is located in the north-eastern part of China in Liaoning Province, near Shenyang.
The plant has an annual corn starch processing capacity of 50,000 tonnes.
The plant's current owner, Harvest Rich, will expand its capacity to 300,000 tonnes before the completion of the acquisition.
This will boost China Sun's total annual corn starch production capacity to 716,000 tonnes.
The proposed acquisition is targeted for completion by January and the plant is expected to start operations in the first half of next year.
- CNA/so
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