Jilin Grain gets $1.5 billion in bid to restructure

State-owned Jilin Grain Group Co Ltd, the largest grain trader in northeastern China by sales revenue, will use 10 billion yuan ($1.5 billion) of new investment to add new types of businesses this year, including agricultural insurance, machinery manufacturing and pesticides.

The company is confronting financial difficulties caused by a mature business model and limited capability in services.

The investment will be raised by Hubei Changjiang Industry Investment Group Co for Jilin Grain.