BEIJING-- China's largest grain and cooking oil processing center went into operation on Friday in the northern city of Tianjin as a first stage of the grain and oil development project initiated by the China Oil and Foodstuffs Corporation (COFCO).
Covering 300,000 square meters, the center will serve 260 million citizens in north China. The center will process 2.3 million metric tons of vegetable protein and 900,000 metric tons of cooking oil products every year.
The development project was initiated on April 28, 2009 with a total investment of 4 billion yuan ($620.2 million), 2.6 billion yuan of which was spent to build the center.
Ning Gaoning, president of COFCO, said the launch of the project in Tianjin marks a "breakthrough" for the company, as it will allow COFCO to be ranked among the world's largest cooking oil processors.
Zeng Liying, deputy director of the State Administration of Grain said the center will help COFCO to become more competitive.