CHINA Agri-Industries Holdings Ltd, a unit of the country's biggest grain trader, will invest in oilseed and biochemical plants instead of ethanol production after the government banned new projects that turn grain to biofuel.
The Hong Kong-based company, which said in a March share offering it would spend HK$2.8 billion (US$360 million) to expand fuel-ethanol output, will now invest in projects with less "regulatory uncertainty," according to a filing.