Daodaoquan Grain and Oil (002852.SZ) plans to invest 1 billion yuan to build a 1 million tons/year edible oil processing project.

Daodaoquan Grain and Oil (002852.SZ) announced that in order to expand the company's production scale and enhance its production capacity, the company plans to invest in the establishment of Daodaoquan Grain and Oil Weinan Co., Ltd. in the Weinan Economic and Technological Development Zone in Shaanxi Province, and to invest in the construction of a 1 million tons/year edible oil processing project in the Weinan Economic and Technological Development Zone. The company has signed a "Project Investment Contract" with the Weinan Economic and Technological Development Zone Management Committee, with a total expected investment of 1 billion RMB, mainly engaged in the production and sale of grain and oil. The project plans to build a logistics railway line, stations, and oil material conveyance systems; construct 6 raw material silos with a storage capacity of 60,000 tons, including 4 soybean silos and 2 rapeseed silos (reserved); build 20 oil tanks with a storage capacity of 50,000 tons; construct a 3000 tons/day oil processing unit (with a reserve of 2000 tons for rapeseed), two refining units of 200 tons/day and 600 tons/day respectively, a 600 tons/day winterization unit, a 1000 tons/day edible oil packaging and filling unit (to be built in phases), an oil bottle workshop with a capacity of 80 million bottles/year and related facilities, with a comprehensive annual production capacity of 1 million tons. The total expected investment for the project is 1 billion RMB, with a construction period of 24 months, officially commencing after the transfer of the project site, obtaining the land use certificate for the project site, and obtaining all construction permits.