Chinese agribusiness giant New Hope Group, plans to increase its investments in Indonesia. With the company's Indonesian unit PT New Hope Indonesia, the group plans to build 2 new feed mills in Surabaya, East Java and Tangerang, Banten.
Indonesia's Agriculture Minister Suswono said that New Hope Group plan to invest a total of Rp1.5 trillion (USD$155 million) in the construction of new factories in the country. As well as feed production the company will also invest in poultry breeding.
The latest announcement comes on the heels of the company announcing last September, that the group planned for a new feed mill to be constructed in Medan, North Sumatra. The USD$5.1 million feed mill will have a production capacity of around 290,000 tonnes per annum, and is expected to be operation in 2014.
PT New Hope Indonesia, with a registered capital of USD$8 million, primarily engages in the area of feed production, sales, trade of raw materials of poultry feed, fish and shrimp as well as farming technology services.
Chinese company New Hope Group started the overseas development of its business in 1996, with its first overseas feed mill opening in 1999 in Vietnam. The Group now operates 8 overseas plants including feed mills in Vietnam, Bangladesh, Philippines，Bengal, and Indonesia.
In the company's 5 year plan they aim continue to accelerate the pace of overseas development and build in total 15-20 new overseas feed mill in Southeast Asia, Africa, Eastern Europe and other regions.