Oils and fats megafactory'

The Alianza Team group of companies has said that it plans to construct a 'megafactory' in Barranquilla for the production of oils and fats in Colombia.

The plant will be capable of producing 500 million tons daily, using the most advanced technology currently available. The group's four current factories produce 200 million tons per day.

Although the exact site for the factory is still to be confirmed, it is planned that the bulk of its production will be exported to Italy and Germany.

The plant will focus heavily on palm oil products, the production of which has been heavily supported by the government in recent years. The company chose Colombia for the factory over Panama, Costa Rica, Venezuela and Ecuador and building it is a strategic decision in preparation for increased competition in the future with the creation of the Free Trade Area of the Americas.