(Yicai Global) Sept. 8 -- Shandong Delisi Food Co. [SHE:002330], which produces and sells meat products, will build a beef processing plant in China's eastern Shandong province capable of handling 300,000 cattle a year and expects to complete construction in a year and a half.

The firm plans to raise around CNY267 million (USD41.4 million) to build the plant with its own funds and bank loans, it said in a statement on Sept. 7.

Changes in food structure have increased domestic demand for beef, while bovine farming policies and the gradual opening up of beef imports have provided a guarantee for beef sources, the firm added.

The plant will help better meet domestic demand, optimize the company's existing product structure and enhance its ability to resist cyclical fluctuations in the industry, the statement said.