(In MARCH 4 story New Hope corrects to say daily crushing capacity 5,000 tonnes, not 50,000 tonnes, paragraph 2)
BEIJING, March 4 (Reuters) - Chinese agribusiness group New Hope plans to build its first soybean crushing plant in China’s Hebei province in a joint venture with Cargill , its chairman Liu Yonghao said on Saturday.
New Hope and provincial state companies will own 51 percent of the project, which will have a daily capacity of 5,000 tonnes, while U.S. commodity merchant Cargill will hold the remaining 49 percent, he said at a briefing.
China is the world’s top soybean buyer.
Liu has built New Hope from a small chicken farm into the country’s top animal feed producer, with businesses extending to banking and property and annual sales topping 90 billion yuan ($13.83 billion). (Reporting by Hallie Gu; Writing by Josephine Mason; Editing by Alexander Smith)