Jollibee Foods Corp, the largest Philippine fastfood company, will spend 50 million yuan ($7.38) for a food-processing plant that will serve its restaurants in China, a stock exchange filing today showed.
The plant will be built in Shucheng county in Anhui province and will be operational in 2011, Manila-based Jollibee said.
Jollibee Worldwide Pte. Ltd., signed an agreement with Singapore-firm Hua Xia Harvest Holdings Pte. Ltd. to undertake a food manufacturing operations to supply products to food service businesses of the Jollibee group of companies.
The joint venture planed to build and operated a food processing plant in Shucheng county in Anhui province. This commissary will supply the products for the restaurants of Jollibee in China.
Shucheng's proximity to the supply of agricultural products that will be used for the restaurants of Jollibee made it an ideal place for the commissary. Anhui is also among the top agriculture provinces in China.
