Ontario, CA– (August 28, 2017) – Kiwa Bio-Tech Products Group Corporation (OTCQB: KWBT) (“Kiwa Bio-Tech” or the “Company”), an environmentally friendly Company that promotes eco-friendly agriculture in the Country of China and specializes in the manufacturing of biological organic fertilizers, announced today that the Company has launched a joint venture with Zhongshi’an Agricultural Science & Technology Co., Ltd and Xintaitianyi Financial Service and Science & Technology Co., Ltd.
The joint venture name is Inner Mongolia Jingnong Investment Management Co. Ltd (“Jingnong”). Kiwa Bio-Tech is a 40% partner in the venture, which will have an initial capitalization of approximately $1.5 million. Under terms of the agreement, Jingnong will invest in the expansion of Kiwa’s existing production base in Shandong Province and in the construction of 3 new manufacturing bases of Kiwa in Inner Mongolia Province, Xinjiang Province, and Guizhou Province.
Kiwa’s CEO Yvonne Wang stated, “As a main part of the cooperation between Kiwa and the China Agricultural Products Processing Industry Development Association, the establishment of the new Joint Venture is a great achievement in the history of Kiwa. The formation of Jingnong will certainly help to expand our business much quicker throughout the Country of China.”