Qilian rises on pig by-product processing project investment deal
09/07/2021 15:49
** Shares of Chinese pharma co Qilian International Holding
Group Ltd QLI.O up as much as 1.7% at $4.16 in early trading
** Co, through its PRC subsidiary Chengdu Qilianshan
Biotechnology Co Ltd, entered into an investment agreement with
Chongqing Jin Tong Industrial Construction Investment Co Ltd
(CJT) on July 5, for construction of a pig by-product processing
facility urn:newsml:reuters.com:*:nGNX2bSHrk
** The project is designed to cover an area of about 8.24
acres, with a total investment of 540 mln yuan (about $83.6 mln)
** The facility is expected to reach a target annual
production capacity of 10 tons of heparin sodium preparations
within three years, the value of which being more than 500 mln
yuan (about 77.4 mln)
** Stock has fallen 59.1% since its debut in January
($1 = 6.4795 Chinese yuan renminbi)
(Reporting by Sahil Shaw in Bengaluru)
((sahil.shaw@thomsonreuters.com))