Taiwan’s largest domestic food processing company, Uni-President Enterprises Corp, has revealed its plans to establish a joint venture with US giant the Cargill Group in order to build an animal feed mill in China.

An official from Uni-President commented today that the 50:50 venture will be capitalized at US$40m but he could not reveal how long the venture was expected to last. The feed mill, which will have an annual capacity of 800,000 metric tons, will cost a further US$120m to build.

Uni-President already controls 25 units in China, which make foodstuffs such as instant noodles, wheat flour and animal feed. By the end of last year, the company was the largest Taiwanese investor in China, having ploughed a total of NT$10.47bn into its units there.