COFCO to Invest 10 Bln Yuan in Hunan

　　A strategic cooperation framework agreement between Hunan Province and COFCO was signed in Beijing recently. The signing ceremony was witnessed by Secretary of the CPC Hunan Provincial Committee Xu Shousheng, Governor of Hunan Province Du Jiahao, Chairman of COFCO Ning Gaoning and President of COFCO Patrick Yu.

　　Vice Governor Zhang Jianfei and Vice President of COFCO Chi Jintao inked the agreement on behalf of the two sides.

　　Under the agreement, the two sides will conduct multi-form, multi-channel and multi-level exchanges in various fields such as planting, breeding and deep processing of agricultural products as well as purchases and storage of farm products, food processing, wine brewing, logistics, real estate and financial service, so as to establish strategic partnership for mutual development. In the next five years, the corporation will invest 10 billion yuan to support Hunan’s project construction including COFCO-Chenglingji Integrated Industrial Park, Anhua First Tea Factory of China Tea (Hunan) Co., Ltd., COFCO Coca-Cola program and large-scale breeding.

　　Secretary Xu hoped that the province would make full use of the strategic cooperation and international platform of COFCO to enhance grain trade and industrial development. He called for allocating and integrating resources by market mechanism to achieve faster and better growth for both sides. Hunan will create a favorable environment for the cooperation, Xu added.

　　Chairman Ning Gaoning remarked that COFCO and Hunan have realized sound development in such aspects as rice, cola, real estate and finance, as lays a solid foundation for further cooperation. In the near future, COFCO will carry out all-round and pragmatic cooperation with Hunan by mapping out overall Hunan business plan, to play a greater role in boost Hunan’s modern agriculture.