Synutra gets Chinese approval for $118m powdered milk plant construction in France
summary：Synutra International has obtained approvals from China's National Development and Reform Commission (NDRC and its Ministry of Commerce (MC to establish a $118m new drying facility in Carhaix, France....
Synutra International, a US-based firm that operates infant formula business in China, has obtained approvals from China's National Development and Reform Commission (NDRC) and its Ministry of Commerce (MC) to establish a $118m new drying facility in Carhaix, France.Earlier on 18 September 2012, the company has signed a long-term industrial and commercial partnership agreement with France-based dairy cooperative Sodiaal to establish the new drying facility to produce powdered milk and fat-enriched demineralized whey for Synutra group.
Majority of funding for the project, which is slated to complete by the end of 2014, is expected to come from People's Republic of China bank loans.
Synutra International chairman and CEO Liang Zhang said that with these approvals, the company will look further to the new drying facility.
"We are confident our industrial and commercial partnership with Sodiaal and Euroserum can further increase consumer confidence in Synutra brand products and strengthen our competitive position as a leading dairy and nutritional product provider in China," Zhang added.
Synutra International produces, markets and sells its infant formula products through its operating subsidiaries under Shengyuan and Synutra brands.