China Building Soy Plant in Manitoba

WINNIPEG - Nov 18/04 - SNS -- A memorandum of understanding has been signed with China's Linyi Shansong Biological Products Co. Ltd. to locate a new soy processing facility in Manitoba's Portage la Prairie area.

Under the agreement, the Province of Manitoba, the City of Portage la Prairie, the Rural Municipality of Portage la Prairie and Linyi Shansong Biological Products will share the costs of a study on the plant.

The signing of the memorandum is the first step in a process that includes engineering studies and environmental approvals.

The new facility will process soy oil and produce a variety of products used in the food industry. Most of these products will be exported to China. The company chose the Portage la Prairie location for a variety of factors including transportation, labor, infrastructure and the supply of non-genetically modified soybeans.

The agreement was signed as part of a multi-sector trade and investment mission organized by the Manitoba Hong Kong - Canada Business Association and Manitoba Trade and Investment. More than 20 companies, municipalities and educational institutions participated in the 13-day mission that began Nov. 5.