date:Dec 29, 2012
Inner Mongolia Yili Industrial Group, a China-based dairy company, plans to invest $214m to set up an infant formula facility in South Canterbury and as part of this strategy, it is set to buy New Zealand-based Oceania Dairy Group.
Oceania will allow Yili to gain acess to the land resource consents. The facility will be set up on a 38 hectare land. Construction work is expected to complete by June 2014.
The dairy facility will initially have a 60% production capacity and will achieve full p