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China Billionaire Li to Build Colombia Factory, Portafolio Says

July 17 (Bloomberg) -- Tiens Biotech Group USA Inc. will build a factory in Colombia to produce health and beauty products, Portafolio newspaper reported, citing the group’s billionaire chairman and chief executive officer Li Jinyuan, who is visiting the Andean nation this week.

Tiens will initially invest $50 million in the factory, and about $10 million in mining projects in Colombia, the Bogota-based newspaper said.

To contact the reporter on this story: Matthew Bristow in Bogota at mbristow5@bloomberg.net.

To contact the editor responsible for this story: Joshua Goodman at jgoodman19@bloomberg.net.

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