Pork processor Zhongpin receives US$5m grant
Chinese meat and food processing company Zhongpin announced that its pork processing plants under construction in Tianjin and Changge have been promised subsidies by the Chinese government.
China's policies in 2009 have been encouraging meat processing companies to further modernise and improve their products and processes. Earlier this year, Zhongpin applied for subsidies which were approved by China's National Development and Reform Commission for its three new pork processing facilities.
Zhongpin's two plants in Tianjin, which are currently under construction and are scheduled to begin initial production in the first and third quarters of 2010, together have been promised a subsidy of RMB 20 million (about US$2.9 million) to help support the development of the plants. Upon the completion of all construction, the two plants will have a total annual capacity of 136,000 metric tonnes for chilled, frozen, and prepared pork products.
The Chinese government also promised a subsidy of RMB 13.8 million (about US$2.03 million) for Zhongpin's new Changge plant, located in the Henan province. This plant, currently under construction and scheduled to begin production in the fourth quarter of 2009, will have an annual capacity of 36,000 metric tonnes for prepared pork products.
Zhongpin was also awarded a subsidy of RMB 4 million (about US$ 0.6 million) to support the expansion and further improvement of its integrated production, cold-chain logistics, and information system.
In addition to being granted these subsidies, the company won two awards at the Fifth International Meat Conference in Qingdao in September, 2009.
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