HOHHOT, April 10 (Xinhua) -- Yili, a major dairy producer based in north China's Inner Mongolia Autonomous Region, has announced that it will build a large-scale base in the city of Zhumadian, central China's Henan Province.
Inner Mongolia Yili Industrial Group Company said Thursday that it will invest nearly 3 billion yuan (about 426 million U.S. dollars) in a demonstration ranch and an intelligent dairy processing base in the central Chinese city.
A cooperation framework agreement was jointly signed by Yili and the governments of Zhumadian city, Suiping County and Xiping County, in Hohhot, capital of Inner Mongolia.
The project is expected to achieve an annual output value of up to 5 billion yuan and create at least 20,000 jobs. It will also stimulate local farming, breeding, feed processing, logistics, packaging and other collaborative industries.
Yili president Pan Gang said the company and the local governments aim to build a world-class dairy industry base which will upgrade the dairy industry of Henan as well.
Henan, one of China's major agricultural provinces, has the advantage of producing forage grass and has attracted many dairy enterprises to invest in recent years.
