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2019.11.27
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South Chungcheong Province successfully reached an investment contract with the Dutch bio-food maker




According to Yonhap News,

South Chungcheong Province successfully reached an investment contract with the Dutch bio-food maker. The governor of the province and a group of delegates on a tour to Europe announced the signing of the investment deal with Protix, a multinational food supplier for animal / human consumption.

The Dutch business counterpart set a plan to newly establish facilities worth USD 15 million, producing bio food and animal feed inside Boryeong industrial complex over the next five years.

If all goes as planned, the effect on production inducement and value-added creation is estimated to be at KRW 65.7 billion and KRW 29.1 billion respectively. The investment also appears to create import substitution which helps the province save as much as KRW 37.5 billion over the next five years. The new facilities are expected to reach over USD 57.7 billion in sales.

The governor said “Protix is among the most technologically advanced companies in the global bio food market. South Chungcheong Province will fully support to make the investment plan a great success."




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Source: Yonhap News (Nov 11, 2019)



*This article was translated from Korean.
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