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Penza governor met with the Vice President of COFCO Corporation, China
Penza governor met with the Vice President of COFCO Corporation, China
Economy 05.12.2018

The meeting of Ivan Belozertsev with Zheng Zhou took place during the official visit of Penza delegation in the People's Republic of China.

Mr Zheng Zhou described the domestic and international projects of the company. ‘COFCO Corporation’ is one of the largest food and agriculture companies in China.

‘We have growth and processing plants all over China. We design and build plants, develop equipment for the agri-business. We have 5 design institutes. We value our staff’s qualifications and respect their expertise. All that combined allows us to produce highest quality products,’ said Mr Zheng Zhou.

Ivan Belozertsev stressed his hopes that the current meeting will kickstart the long-term benefitial business partnership between ‘COFCO International’ and the Penza region.

‘Our region has economic and cultural links with more than 100 world countries. The trade relations with foreign partners are developing rapidly. Our major Chinese imports are agricultural equipment, machinery, textiles, electronics and PVC film. Our exports to China are grains, sugar and confectionery products,’ explained the governor.

The parties discussed the possibility of ‘COFCO International’ cooperation in the regional Penza project of ‘Tekhnokord’ company, mainly the supply of certain products by Chinese companies: machinery and equipment for the production of treacle, fructose syrup, citric acid, as well as grain processing and bran pellet making equipment. Another possibility discussed was participation of ‘COFCO International’ as a shareholder.

The ‘Tekhnokord’ company project involves building the advanced grain processing facility in Serdobsk, Penza region. It is assumed that the plant will be producing gluten, glucose-fructose syrop, treacle, citric acid, yeast-based feed and bran pellets. Currently the processing plant is in its design stage.

The Chinese partners expressed their interest in grain trade with Russia. In Penza the demand for grain is much lower than the supply, which creates favourable conditions for its export to China.