Yashili to establish $177m milk processing plant in New Zealand
Chinese infant milk production and distribution company Yashili International is set to invest RMB1.1bn ($177m) to establish a milk processing facility in New Zealand.
Out of the total investment, RMB950m ($153m) will be spent on acquiring land for the facility and construction.
Remaining RMB150m ($24.13m) will be used as working capital of Yashili New Zealand Dairy, a wholly-owned subsidiary of the company which will establish and operate the New Zealand facility.
The new facility is slated to be operational by the second half of 2014.
It will produce finished products and semi-finished products, including base milk powder in New Zealand and is expected to have an annual production capacity of 52,000 tons.
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