Baiyang Biotechnology Park Project kicks off in Yichang

By Shen Yuan, Yichang International Communication Studio

The Angel Yeast Baiyang Biotechnology Park Project kicked off in Yichang on Wednesday. The five-billion-yuan (US $727 million) project is expected to generate new sales revenue of 5.5 billion yuan when it enters full production.

 

The project covers an area of 1,000 mu (67 hectares). The first phase – including grain storage and environmental protection facilities, and an R&D centre – will go into operation in June 2024. The second phase will include the construction of a biosynthesis platform. When completed, the project will be Angel Yeast’s largest and most technologically advanced production base.

 

Close by is the SINOGRAIN Leaving the City and Entering the Port Project, which has a total storage capacity of more than one million tons. Construction began in July last year and the plant is expected to be operational in July this year. It is expected to increase the annual output value of grain and oil processing to 10 billion yuan and provide employment for 2,000 people. The Hubei branch of China Grain Reserves Group will work with Angel Yeast to build the largest grain processing and distribution center in the Yangtze River basin.

 

Angel Yeast has maintained sales growth of 20 percent per annum over the last three years. Its sales revenue is expected to exceed 16 billion yuan this year and 20 billion by 2025.