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    Home > Biochemistry News > Amino Acids Research > China starch relocation Shandong plant, production stop for 3 months

    China starch relocation Shandong plant, production stop for 3 months

    • Last Update: 2020-06-30
    • Source: Internet
    • Author: User
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    China Starch said that in order to implement the Group's expansion plan, its existing production plant and facilities in Shouguang City, Shandong Province, will be relocated to a new production site that may be approved by the Shouguang Municipal Government, and it is estimated that the relocation will result in the Group's divestituating of approximately RMB187 million of non-current assets on existing production facilities and buildings located at the existing plant4VA
    The new plant is located in Shouguang and is located on a number of plots acquired by the Group, with a total site area of approximately 299,873 square metresThe annual production capacity of corn starch and lysine in the new plant is the same as that of the existing plantThe denatured starch production facility is under construction and is expected to be completed in the fourth quarter of this year, with an annual production capacity of about 100,000 tonsIn order to carry out the relocation, the denatured starch production line in the existing plant will be temporarily discontinued from mid-July and is expected to last about 3 months4VA
    The Company continues to mean that the land where the existing plant is located will be recovered by the Shouguang Municipal Government after the relocation is completed, and it is expected that the Government will provide subsidies to the Group for the relocation or the amount determined by the Shouguang Municipal Government4VA
    The Company is of the view that neither the relocation nor the Group's discontinuation of electricity and steam will adversely affect the operations and financial position of the business4VAChina Starch said that in order to implement the Group's expansion plan, its existing production plant and facilities in Shouguang City, Shandong Province, will be relocated to a new production site that may be approved by the Shouguang Municipal Government, and it is estimated that the relocation will result in the Group's divestitrisk of approximately RMB 187 million in non-current assets on existing production facilities and buildings located in the existing plant4VA
      The new plant is located in Shouguang and is located on a number of plots acquired by the Group, with a total site area of approximately 299,873 square metres The annual production capacity of corn starch and lysine in the new plant is the same as that of the existing plant The denatured starch production facility is under construction and is expected to be completed in the fourth quarter of this year, with an annual production capacity of about 100,000 tons In order to carry out the relocation, the denatured starch production line in the existing plant will be temporarily discontinued from mid-July and is expected to last about 3 months 4VA
      The Company continues to mean that the land where the existing plant is located will be recovered by the Shouguang Municipal Government after the relocation is completed, and it is expected that the Government will provide subsidies to the Group for the relocation or the amount determined by the Shouguang Municipal Government 4VA
      The Company is of the view that neither the relocation nor the Group's discontinuation of electricity and steam will adversely affect the operations and financial position of the business 4VA
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