China's largest potato producer, the Snow Valley group, has registered a holding company in Kazakhstan, SnowValley Food Kazakhstan Group Holdings Ltd., which plans to build a deep potato processing plant worth between $100 million and $200 million, the website infohub.kz reports.
The new entity was registered with the Astana International Financial Centre (AIFC) on September 30, noted the author of the Finmentor.kz channel. The company's charter capital stands at $18. Beyond holding functions, it is entitled to engage in potato processing and canning.
Economist Arman Bataev said in his Telegram channel that the shareholder of the new Kazakh company is Xuechuan Liupanshan Food (Ningxia) Co., Ltd., the production arm of China's Snow Valley group.
Back in April, that entity agreed with the Pavlodar Region akimat to build a deep potato processing complex with a capacity of 100,000 to 200,000 tonnes per year. The plant will focus in part on producing french fries, and its cost is estimated at $100–200 million.
Snow Valley Agricultural Group Co. Ltd is a holding company established in 2007 in the city of Zhangjiakou (People's Republic of China). Its structure includes processing parks, virus-free seed potato bases and an extensive logistics network. The company processes up to 800,000 tonnes of raw material.