China's leading dairy maker Inner Mongolia Yili Industrial Group Co announced Wednesday that its board has agreed to establish a milk powder factory with 80,000 tons annual production capacity with Dairy Farmers of America Inc (DFA) in the US state of Kansas.
The joint venture will have a total registered capital of $100 million, $30 million from Yili and $70 million from DFA, the announcement said.
Ma Yun fund invests in Yili subsidiary
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