WASHINGTON, DC – A federal agency says it has conducted an extensive review and decided that it does not have jurisdiction over the proposed Fufeng USA corn milling plant in Grand Forks.
The Committee on Foreign Investment in the United States concluded that Fufeng’s acquisition of vacant land is not a “covered transaction” under its authority.
The lead federal agencies for the review were the Departments of the Treasury, Defense and Agriculture. The committee says it will not be taking any further action with respect to the transaction.
Fufeng USA says its is pleased with the outcome of the review and is looking forward to building its wet corn milling and biofermentation plant in Grand Forks.
The deal has been questioned because of the company’s ties to China and the plant’s proximity to the Air Force Base.
