date:Jul 14, 2014
Fonterra, a New Zealand-based dairy co-operative, has signed an agreement with Abbott Laboratories to establish a new dairy farm hub in China.
The move comes in response to the growing demand for quality milk in China.
Both the companies have announced plans to invest around $300m in the proposed dairy facility through a joint venture, after securing regulatory approval.
The hub will house five dairy farms and will have more than 16,000 dairy milking cattle for the production of milk.
The fi