Hong Kong, April 3 - Chinese glucose producer Xiwang Sugar Holdings Co. said Thursday it plans to increase the production of crystallized fructose-glucose by five times at a cost of CNY500 million (US$71.4 million).
Xiwang Sugar is the world's first producer of crystallized fructose-glucose, a sweetener made from corn that can be used in food and beverages.
The company's 10,000-metric-ton-a-year trial production line of crystallized fructose-glucose started operating in China last year. It cost about CNY49 million to build.
The company said it plans to build its second production line with an annual capacity of 50,000 tons.
It expects to finish building the new facility by 2008-end, it added.
Xiwang Sugar refines corn to produce corn-refined products and corn-based biochemical products. It sources most of its corn domestically.
The company also said it plans to increase its export volume to about 20% of its total sales by 2010, up from 12% in 2007. It said it is targeting new overseas markets such as South Korea.