22 June 2007 - Singapore-based sweetener manufacturer Luzhou Bio-Chem Technology Limited has increased its investment in its a wholly owned subsidiary Luzhou Bio-chem Technology (Sichuan) Co., Ltd. by RMB 24.3 million (USD 3.2 million), the company said in a statement.
The Group’s joint venture partner in Luzhou Bio-chem Sichuan, Sichuan Jin Tai Bio-chem Co., Ltd will also contribute an additional RMB 5.7 million to the registered capital of Luzhou Bio-chem Sichuan (USD 0.75 million).
The funds investment will be used for phase two of the new production facility in Pengshan, Sichuan Province, which has an annual corn sweetener production capacity of 70,000 tons.
In January, FLEXNEWS reported that Luzhou Bio-Chem had already invested USD 1.2 million in its Chinese subsidiary to build a new production line for high fructose corn syrup at its Liaoning plant in Northeast China.