Tianjin Goubuli set to open Australian probiotics plant

Company looks to cash in on emerging opportunities from Belt and Road in overseas markets

Tianjin Goubuli Group Corp, a century-old company better known for its uniquely flavored baozi or steamed buns, will put up a probiotics plant in Australia on May 13, after officially acquiring the majority stake from an Aussie bioscience company last month, said its top executive.

Zhang Yansen, the group's chairman, said construction work of the project's first phase had been completed and it will be operational in Gold Coast City, Queensland, next week. The factory can produce up to 35 metric tons worth 500 million yuan ($74.3 million) of concentrated probiotics such as lactobacillus acidophilus annually.