China’s largest animal feed maker to expand in Asia

Thursday, 11 June 2015 00:17 - - {{hitsCtrl.values.hits}}

BEIJING (Reuters): China’s largest animal feed maker, New Hope Liuhe, will expand its feed mill and poultry business in ten Asian markets, the company said on Tuesday.

New Hope Singapore Ltd., a subsidiary of the Chinese firm, will use a $ 60 million loan from the IFC, a World Bank organisation, to build new projects in India, Lao People’s Democratic Republic, Myanmar and Nepal and expand existing businesses in Bangladesh, Cambodia, Indonesia, the Philippines, Sri Lanka, and Vietnam.

The company is focusing on international expansion as growth in animal feed demand slows at home, hurt by weaker economic growth and a clampdown on official spending.