Hunan Oil Group, first of its kind in the province, was established in Lixian County of Changde City on December 24. Composed of 17 oil companies including Hunan Vchen Industry Co., Ltd and Hunan Shanrun Tea Oil Technology Development Co., Ltd, the group aims to form an integrated industrial chain in the sector, improve its deep-processing level, and optimize the industrial layout to realize its large-scale development along the course of collectivization, and specialization.
In 3 to 5 years, the group will be built into a large domestic oil corporation mainly engaged in the processing of low-fat and low-cholesterol rapeseed oil, refined rice oil, camellia oil and quality plant protein, with an annual output of 400,000 tons, a storage capacity of 150,000 tons and a sales revenue of 8 billion yuan.
Translator: Li Xuan
Source: Hunan Official Web Portal