TAIYUAN, China – Shanxi Coking Coal Group, a state-owned coking coal company, is partnering with Shuanghui Group in a pork processing venture in an effort to diversify the company’s business portfolio, according to local news reports.
Shanxi Coking Coal and Shuanghui Group, a large meat processing company in China, signed an agreement to build a slaughtering and processing plant in three phases over one year at a cost of $158 million. The project will include a butchering and pork processing unit expected to generate $474 million to $632 million in revenues annually. The plant is projected to process 2 million pigs annually, according to reports.
The partnership is one example of coal companies in China that are diversifying their businesses. Non-coal businesses accounted for 59 percent of revenues for the Shanxi coal companies, according to China Daily USA.
Enhance your industry IQ Sign up for our free newsletters to stay informed on each day’s news and trends |
Subscribe |