On February 14, 2020, Hebei Yufeng Industrial Corporation Ltd. resumed construction for its large-scale health industrial park project. This project is the first major project for which the Hebei province has resumed construction since the outbreak of the Wuhan-based corona virus. At the construction site for the project, all workers are undergoing regular body temperature checks, and all workers must wear masks before entering the site to work.
According to several sources, this project aims to accrue RMB 5.6 billion (USD 809 million) in investments in the next three years. The project is estimated to be able to produce 3.6 million tons of processed corn products per year once completed. Some key products that the project aims to produce are corn flour, glucose, maltose, sorbitol, mannitol, and maltodextrin. By the end of 2019, the project had already accrued RMB 6 million (USD 87 million) in investments, and construction was completed for a sugar alcohol workshop. Some equipment has already been installed, and heating and electrical connections have already been set up for a liquid sugar workshop and a solid sterol workshop. Furthermore, major equipment is being installed in a dry sugar workshop, and a packaging center is being built.
Hebei Yufeng to take extensive measures to prevent employee-spread disease
A representative for Yufeng’s large-scale health industrial park project explained, “Before our company resumed construction for this project, we took great effort to ensure that appropriate measures are in place to prevent the spread of disease and that our construction project is carried out with complete safety. We will thoroughly examine each worker who returns to our site and keep detailed records for each employee. We require each of our workers to take extensive preventative measures against disease while ensuring that the project is completed as scheduled.
Hebei Yufeng Corporation Ltd. has prepared food and medicine for its employees and has also ensured proper electricity, water, and other logistics for the workplace. Over the long term, the leaders of the industry will lead the local workers and farmers to bring about agricultural industrialization, as well as work to improve the operation standards of agricultural industry and bring technological advancement to the industry. Currently, Hebei Yufeng Corporation Ltd. aims to become a leader of agricultural production throughout all of China. Furthermore, the medical supplies produced by Hebei Yufeng Corporation Ltd. are already widely sold throughout the United States, Europe, and South America, which has provided a significant boost for the Chinese economy.
Hebei Yufeng key company in both local and global economies
The current project aims to produce about 3.6 million tons of processed corn products per year, at a value of approximately RMB 25 million (USD 3.6 million). Hebei Yufeng Corporation Ltd. is already the world leader in production capacity of vitamin B12 products, producing about 70% of all vitamin B12 sold in the global market. The corporation pays approximately RMB 75 million (USD 11 million) each year in taxes on its products, which has led to improvements in the local agricultural industry. Local workers have found increased jobs in crop planting, cultivation, and shipping, and the corporation’s operations have led to an overall improvement for the local economy.
For more information for China’s corn market, please check our Corn Products China News.