Cofco Biotechnology (000930.SZ) plans to implement a project to relocate the annual production of 30,000 tons of propylene glycol, with a total investment of 655 million yuan.

Cofco Biotechnology (000930.SZ) announced that the company plans to implement a project to relocate the annual production of 30,000 tons of propylene glycol, moving from Wukeshu Economic and Technological Development Zone in Yushu City, Jilin Province to the Anhui Management Company Alcohol Phase II reserve land in Mohekou Industrial Park, Bengbu City, Anhui Province. The total investment for the project is 655 million yuan, with a construction period of 18 months from the date of project approval to the start of trial production. The announcement stated that relocating the project to the Anhui COFCO Industrial Park in Bengbu can take advantage of the existing reserve land of the Anhui Management Company and its complete public works facilities, as well as being close to the main sales area of the product, reducing logistics costs.