Celestial to build biodiesel plant in Daqing

November 1, 2006

Celestial NutriFoods, headquartered in Beijing, is setting up a joint venture that will build a biodiesel plant in the soybean zone of Daqing City in Heilongjiang province. The plant is expected to have an annual production capacity of 100,000 tons. Production will begin at the end of next year. Celestial will take an 80% stake in the joint venture. Total investment in the joint venture including land, plant and buildings, machinery and equipment, technology and working capital is estimated at RMB526 million (US$66.57 million). (September 26, 2006)

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