Monday 20 February 2012

China and the US to establish biofuel company in the US

China largest egg producers has agreed to co operate with a major meat supplier in the US to establish a biofuel company in the US, with a total investment of US$1.8 billion (€1.357 billion) Beijing DQY Agriculture Technology Co Ltd (DQY) and Virginia-based Smithfield Foods will set up a joint venture co-run by their subsidiaries, Beijing Helee Bio-Energy (HELEE) and Murphy-Brown, DQY.

The two companies also plan to utilise wastes at more than 2,600 pig farms of the Smithfield Foods over the next 10 years, which will lead to the reduction of carbon dioxide emissions by 21 million tons annually, four times the current yearly emission of Chicago, according to DQY. Read more ...
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