Chinese dairy firm Inner Mongolia Saikexing Breeding and Biotechnology Group has secured an Asian Development Bank-led syndicated loan valued at US$125m aimed at expanding domestic milk supply in China.
Inner Mongolia Saikexing Breeding and Biotechnology Group said this week the funds will help it to carry out a number of developments including building “at least four new ranches and adding 20,000 cows”, while stepping up “cutting-edge biotechnology research and development” into improved dairy management and food safety.
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The investment will lead to “more scientific development of modern animal husbandry” and the “development of a greener and healthier livestock industry in China”, Inner Mongolia Saikexing Breeding and Biotechnology Group said.
Inner Mongolia Saikexing Breeding and Biotechnology Group chairman Yang Wenjun said: “Saikexing is part of the traditional agriculture and animal husbandry industry in China, but we are also exploring a lot of technological innovation”.
The ADB said the Korea Development Bank and the Bank of China were among banks involved in arranging the finance for Inner Mongolia Saikexing Breeding and Biotechnology Group.
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