COFCO unit ponders location of future plants

China Agri-Industries Holdings Ltd., a unit of COFCO Ltd., plans to invest in non-grain ethanol fuel plants in China this year, COFCO Chairman Ning Gaoning said. Gaoning said China Agri-Industries has yet to decide where to locate the plants. Among the locations being considered are the southern provinces of Guangdong and Hainan. Ning declined to disclose the size of the investment, but said each plant usually has an annual production capacity of around 200,000 tons, which would require an investment of more than 1 billion yuan (US$146.48 million). (March 12, 2010)