Beijing-based dairy company Sanyuan Foods has launched a joint venture with an Australian dairy company to produce cheese and milk powder in Australia.
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Australia Challenge Cooperative Dairy Co and Sanyuan will together invest US$27m in the joint venture, which will be named Australia Sanyuan-Challenge Dairy Co.
Guo Weijian, general manager of Sanyuan Foods, said the joint venture would begin operation on 1 April, reported Xinhua New Agency.
The new company plans to process around 300,000 tons of fresh milk each year, with around half of the products being sold on the Chinese market.
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