The news was announced during a visit by the President of Brazil, Lula da Silva, to the Campo Grande II plant, located in the State of Mato Grosso do Sul.

Brazilian company JBS, the world's largest meat producer, will invest 150 million reais (US$29.2 million) to double-fold processing capacity at its Campo Grande II beef plant to 4,400 cattle heads per day, the company announced Friday in a statement.

The announcement, which comes after the plant received the green light to export to China in March, was made during a visit by Brazilian President Luiz Inácio Lula da Silva to the unit, located in the state of Mato Grosso do Sul.

JBS said the capacity expansion should be completed within a year and will make Campo Grande II one of the company's three largest plants in the world and the largest meat complex in Latin America. The firm added that it will also double the plant's workforce to 4,600 people.