(MENAFN) China's Inner Mongolia Yili Industrial Group Co. Ltd. announced plans to invest USD327 million in four dairy projects in New Zealand, Xinhua reported.
Yili, one of China's largest dairy producers, unveiled its Oceania production base in Waimate, South Island, New Zealand, which has involved investment of USD195.38 million.
The move came as increasingly more Chinese customers prefer overseas dairy products as the reputation of local brands was damaged in the melamine-tainted baby formula scandal in 2008.
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