Cargill Inc, a US corporation, said it is investing $ 112 million in capacity expansion at its corn processing plant in the northeastern Chinese province of Jilin, one of China’s major corn provinces.

The Sunyuan plant is part of a larger project being built with the local government under the name Cargill Sino-American Biotechnology Industrial Park, Cargill said in a statement on Tuesday, April 23.

According to estimates, by 2020, the industrial park should reach the annual volume of corn processing at 2 million tons.

Cargill also announced that it will establish a center in the Sino-American Biotechnology Industrial Park to conduct research and training on food safety and improve product development for food ingredients.

According to Cargill CEO Dave McLennan, over the next five years, Cargill hopes to double its investment in China. Cargill, Incorporated is a privately held US global corporation based in Minneton, Minnesota.

The largest private corporation in the United States in terms of revenue. Specialization: agricultural services, crop and livestock production, food, healthcare and pharmaceuticals, industrial and financial risk management, raw materials.