April 15, 2010 (FinancialWire) — AgFeed Industries, Inc. (NASDAQ: FEED), an independent hog production and animal nutrient companies in China, said that it has agreed to invest in a hog production project in conjunction with Xinyu City in Jiangxi province, China.  

According to AgFeed, the two-year project encompasses the building of five western model hog farms, totaling 25,000 sows.  It said that the initial phase of the project will encompass an investment of $18 million to build two 5,000 head sow farms, one 200 head boar stud farm and one 2,600 head multiplier facility.  Upon completion the first phase of this complex shall have an annual hog production capacity approaching 230,000, according to AgFeed.

AgFeed said that construction for the initial phase will begin in May 2010, with the goal of completing the second phase during 2012.  The Xinyu complex is meant to have annual production capacity of up to 600,000 hogs.

AgFeed said that, as part of its agreement, the local authorities will be responsible for clearing the land and developing the necessary infrastructure for the new farms. This, it said, will include the required water supply, electrical systems and the construction of the roads and highways necessary to accommodate all of the farms.

New York-based AgFeed Industries is a U.S. company with its primary operations in China. AgFeed has two profitable business lines — animal nutrients in premix, concentrates and complete feeds and hog production.

FinancialWire(tm) is committed to serving the financial community through true journalism and providing relevant resources to investors. Standards-based, independent equity research on numerous public companies is available through the Investrend Research Syndicate (http://www.investrend.com/reports) written by FIRST Research Consortium (http://www.investrend.com/FIRST) member-providers. Free annual reports and company filings for companies mentioned in the news are available through the Investrend Information Syndicate (at http://investrend.ar.wilink.com/?level=279). FinancialWire(tm), in cooperation with the Investrend Broadcast Syndicate, also provides complete, daily conference call and webcast schedules as a service to shareholders and investors via the FirstAlert(tm) Network’s “FirstAlert(tm) Daily” (http://www.financialwire.net/news-alerts/).

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) website (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

[hlmsmlh] [agrcltrtlc] [frmrnchcmrf] [chnchn]