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China Marine Food Group, a manufac¬turer of seafood- and algae-based foods, has started building a new 20 000 mt cold storage facility. The new store will be built on an area spanning 8 691 sq m, lo¬cated in the Shishi fishing port, one of the five largest in China, adjacent to the com-pany's processing facilities. China Marine produces seafood-based snack foods and soft drinks made with marine algae as well as distributing fresh and frozen marine products. The company cur¬rently rents storage space at other locations. The new plant, when fully operational, is expected to generate US$ 8.0 million in stor¬age, blast freezing and ice revenues annually and US$ 4.0 million in net income at a net income margin of about 50%.
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