In China, China Integrated has announced that they expect to complete the construction of its new 50,000-ton biodiesel production facility adjacent to its existing 100,000-ton biodiesel production facility in Tongchuan City, Shaanxi Province, by the end of this month. The total construction cost of the new 50,000-ton biodiesel production facility is now approximately $19.3 million, of which $18.3 million has been spent by the Company to date.
The remaining $1 million will be paid in the first quarter of 2011. The Company expects to generate approximately $21 million in annual revenues from this new facility in 2011.
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