Origin Agritech, a supplier of hybrid and genetically modified crop seeds, has opened an RMB170m ($26.83m) corn seed processing center in Bole, Xinjiang, China.
The facility will primarily produce, process, package, and sell hybrid corn seeds to the domestic Chinese market. It deploys modern technologies and full mechanization throughout the entire production process from land preparation and seeding to product packaging.
Origin Agritech noted that the processing facility employs advanced corn husker system, and its production base uses modern drip irrigation systems and advanced farming equipment for corn seed production.
Xinjiang Origin is a joint venture seed company between Origin and local seed firm Xinjiang Jinbo Seed. Origin holds a 51% ownership stake of the RMB100m ($15.78m) registered capital investment and retains the exclusive joint venture partnership with Jinbo in Xinjiang.
The facility will increase the Origin's total seed processing capacity and expand marketing channels to distribute Origin's hybrid products to the northwest region in China.
Origin chairman and CEO Gengchen Han said that Xinjiang Origin addresses the increasing demand for superior hybrid seed products, and also diversifies the company's cost structure and production base, and expands the sales channels into a new market.
