Louis Dreyfus-backed Fuling Food Industrial Park Opens in Guangzhou, Marking Significant Foreign Investment
September 27, 2023 – In a momentous occasion, the joint venture project named Fuling Food Industrial Park, backed by Louis Dreyfus, Donlink, and Haid Group, celebrated its grand opening ceremony in Guangzhou’s Nansha district.
This project adds to the growing list of major foreign investments in Guangzhou, including the ZF Guangzhou Technical Center, Panasonic’s fourth electronics factory, and the Autoliv Guangzhou Factory.
Guangzhou has seen remarkable growth in investments this year, with 1,062 new projects signed between January and August, representing a notable 13.3% increase. Among these projects, 34 were valued at over a billion yuan each. The city also saw a staggering 84.2% year-on-year growth in the establishment of new foreign-invested enterprises, totaling over 4,000. Additionally, Guangzhou has attracted investments from 345 Fortune Global 500 companies.
Margarita Louis-Dreyfus, Chairwoman of the Louis Dreyfus Group Board, expressed their confidence in the Chinese economy and reaffirmed their long-term commitment to the Chinese market. Louis Dreyfus has been present in the Chinese market for 50 years and their project development and business expansion in Guangzhou have exceeded expectations.
The Fuling Food Industrial Park project was proposed in 2020, with a cooperation memorandum signed. The first phase covers an area of 271 mu and includes a soybean crushing line with an annual processing capacity of 1.8 million tons, a soybean oil refining workshop processing 360,000 tons annually, and a packaging oil workshop with an annual output of 240,000 tons.
Chen Jiayuan, Chairman of Fuling Food Technology Co., Ltd., and Chief Executive Officer of Louis Dreyfus Group North Asia, outlined plans to collaborate with Chinese partners to develop high-tech modern agriculture. They aim to incorporate technologies such as blockchain, the Internet of Things (IoT), and artificial intelligence (AI) in the management of the agricultural and food supply chain, ensuring traceability from the farm to the dining table.
The Fuling Food Industrial Park will leverage its strategic location and convenient transportation infrastructure in Nansha, Guangzhou. It aims to balance grain production and sales in the Greater Bay Area and surrounding regions while ensuring a secure supply of high-quality protein products in South China. The project will also focus on developing plant-based food ingredients to meet the rising demand for healthy and nutritious products.
Louis Dreyfus’ decision to invest in Guangzhou showcases the city’s attractiveness as an investment destination for Fortune 500 companies.
Source: Yangcheng Evening News Yunshang Lingnan
Author: Sun Qiman
Publication time: 2023-09-28 22:08