China’s leading aqua-feed firm has broken ground on a new processing plant in Ecuador.
With an annual production capacity of 240,000 metric tons, the Guangdong Haid Group’s new plant is being built in the coastal province of Guaya, Ecuador’s most populous region. An investment figure hasn't been given by Haid, but Ecudaor signaled in 2016 that the firm would invest USD 10 million (EUR 8.7 million).
Haid has said it will invest CNY 4 billion (USD 589 million, EUR 511 million) in 13 overseas projects over the next five years, according to Li Yong Qiang, head of international investment at Haid. The investments are part of the company’s growth strategy, which is aligned with China’s “One Belt, One Road” initiative, according to Li.
“We will not just buy from the world but now will also sell to the world,” Li said. “We have already invested USD 240 million [EUR 208.2 million] in 30 overseas subsidiaries.”
One of the most successful companies in the Chinese feed sector, Haid has hedged its bets with major investments in pig breeding and feed production. The firm has been courted by Pro Ecuador, the country’s investment and trade agency which has an office in Guangzhou city, the home base of Haid. Ecuador, a major exporter of shrimp (and oil) to China, has been welcoming foreign direct investment under the government of Lenin Moreno, whose predecessor, Rafael Correa, received criticism for taking on large loans from China.
Photo courtesy of Guangdong Haid Group
