One of the world's largest tilapia producers, China-based Baiyang Industrial Investment Group will invest CNY 236 million (€30.7/$36.5 million) in the construction of a new processing plant in China's tilapia hub, Hainan Island.
The new company under which the factory will be built and operated, Hainan Baiyang Aquatic Food, will process tilapia, golden pomfret and other seafood on a 45,322 square-meter site in Wenchang City. It will have a registered capital of CNY 20 million (€3.1 million/$2.6 million).
The land for the project has been acquired and planning approval has been put out for public consent, with construction already underway.
