COFCO signed the strategic collaboration framework agreement with Shaanxin Government in Xi’an, the provincial capital city. Mr. Patrick Yu, COFCO President, and Mr. Yinliang Yao, Deputy Governor of Shaanxi Province, signed the agreement on behalf.
As Mr. Yu said, this was a significant step made by COFCO in expanding its capacity in Northwest China. COFCO would concentrate its investment on agri-by-product processing in this region. COFCO would take the controlling stake in China Surea Group by means of increasing capital and issuing new shares. And COFCO would build a comprehensive industrial park integrating grain logistics, agri-processing, feed processing and food processing, also expecting to contribute to agri-industrial development of the region.
As Mr. Yao said, Shaanxi Province witnessed its economic development picking up the speed year on year and science and technology playing an increasingly clearly important role. Signing the agreement would pave the way for both parties to collaboratively build a future of mutual advantage.
Mr. Yu also visited the Xi’an branch of COFCO R&D Institute and the headquarters and one base of China Surea Group.