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Shineco cooperating with Xingshan City for industrial hemp planting base.

Shineco, through its wholly owned subsidiary Tenjove NewHemp Biotech, entered into a strategic cooperation agreement with the Xingshan People's Government of Hegang City of Heilongjiang Province. Both parties agree to actively promote the development of a complete industrial chain for industrial hemp including cultivation, harvesting, initial processing and fine extraction. Both parties plan to develop a 20,000 mu -approximately 3,295 acres - high-quality industrial hemp project and expect to complete the cultivation of the first 500 mu in 2019. Both parties also agree to establish an industrial hemp farm, a CBD Extraction Industrial Park, an Industrial Hemp Research Center affiliated with the China's Academy of Science, and an Industrial Hemp Workstation sponsored by the City of Hegang of Heilongjiang Province. Shineco estimates the value of the CBD and related raw medical extract alone to reach RMB2.1B.

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Publication:The Fly
Date:Apr 4, 2019
Words:138
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