Chinese group to invest in soy processing factory in Bahia, Brazil

9 November 2012

The state secretary for agriculture in Bahia, Eduardo Salles, has confirmed in Salvador the implementation of a project by the Chinese investment group Chongqing Grain Group (CGG) to install a soy pressing factory in the Brazilian state.

The Chinese group’s president, Hu Jun Lie, will visit Bahia in late November/early December for a further round of meetings to finalise the project, Salles announced.

The group plans to install an industrial pole to crush soy and refine soy oil, as well as a port infrastructure and a textile industry.

The factory will crush 1.5 million tonnes of soy per year and should initially generate 500 direct jobs, a number that should rise to 1,000 in the final phase. As many as 7,000 indirect jobs may result.

Hu Jun Lie announced in 2011 that the Chinese group planned to invest US$500 million to develop the soy sector in Bahia state. (macauhub)