Guangxi Yangxiang Co Ltd

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IFC is considering a long-term local currency loan of up to US$50 million equivalent to Guangxi Yangxiang Co. Ltd. (“Yangxiang” or the “company”). Established in 1998 in Guigang city, Guangxi Autonomous Region, Yangxiang’s main business segments include: (i) the breeding and farming of pigs, and (ii) the manufacturing of pig feed. Yangxiang is among the largest integrated pig companies in China, and the first Chinese feed company that obtained both ISO9001 and ISO14001 certifications in the sector. Headquartered in Guangxi, Yangxiang has operations in Hebei, Henan, Hunan and Liaoning provinces; all are considered frontier regions in China.The Project consists of building two breeding farms in Guigang, Guangxi, and recruiting and retaining contract farmers for hog farming (the “project”). As a result, the breeding capacity will increase by 80,000 sows and the farming capacity will increase by 2 million commercial hogs.The project has already commenced and it is expected to be completed over the next 18-24 months. The company plans to finance the project mainly through its internal cash generation and the remaining up to US$50 million equivalent is to be financed by IFC’s long-term local currency loan.