Yashili International,a manufacturer of infant milk formula products in China,plans to establish a milk processing facility in New Zealand with an investment of CNY1.1bn($175m).
Yashili New Zealand Dairy,a a wholly-owned subsidiary of Yashili International,will establish and operate the New Zealand facility.
The plant is expected to produce about 52,000 tons of finished products and semi-finished products,including base milk powder.The facility is scheduled to go onstream by the second half of 2014.
As part of the proposed investment,which is subject to approvals from the New Zealand government,Yashili International plans to invest CNY950m($151.3m)to purchase the land and construct the facility,and a further CNY150m($23.9m)as working capital for its subsidiary,Yashili New Zealand Dairy.
Yashili International is primarily involved in the production and sale of pediatric milk formula products and nutrition products,other operations include the production of packing materials.It also offers soymilk powder,cereal products,rice flour.