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Viterra Building Chinese Crushing Plant

TORONTO - Apr 20/10 - SNS -- Viterra Inc. entered into a joint venture agreement with Guangxi Beibu Gulf International Port Group Co. Ltd. to build a canola crushing facility at Fangchenggang in the province of Guangxi, South China at the port of Fangchenggang.

The plant is expected to crush 2,000 metric tons (MT) of canola per day, or approximately 680,000 MT annually. Viterra’s investment is estimated to be approximately US $20-25 million.

Viterra will hold a 49% interest in the enterprise, the maximum allowable investment in the market, while its partner Guangxi Beibu Gulf International Port Group will have a 51% share.

The joint venture will be known as Fangchenggang Maple Grain & Oil Industrial Co. Ltd. Construction will begin in May and is expected to be complete in approximately 18 months.

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