[2020-11-04] Joint venture to handle Chinese imports of Brazilian meat

Source: Macauhub

Chinese developer of real estate Greenland Holdings Corp. Ltd and Brazilian supplier of beef Minerva Foods are getting together to set up in China a distribution centre for imported meat, Greenland says.

Greenland announced in writing that the companies have agreed to establish a joint venture with capital of 500 million yuan (US$74.7 million).

The Chinese company will take care of transporting, storing, distributing and retailing Minerva Foods meat, with a view to increasing the amount of South American beef China imports.

Greenland expects the centre to handle over 4 billion yuan worth of meat in the next two years and over 10 billion yuan worth in the next five years, becoming the biggest of distribution centre for imported meat in China, the company announcement says.