(Yicai Global) July 30 -- A unit of China's Guolian Aquatic Products will invest USD4 million to become Indian Royale Marine Imp-Ex's second-largest shareholder to upgrade its shrimp supply chain. 

Guolian penned an agreement with Royale Marine to hold 25.3 percent of the latter and have veto power regarding major decisions, the Guangdong province-based company said in a statement. 

The investment will help Guolian to improve its supply capacity in the US market, it said. Guolian has more than 20 Indian suppliers and the company has already cooperated with the target firm for a long time, it added. 

Andhra Pradesh-headquartered Royale Marine sells its shrimp products mainly to the US, European Union and China.

Editor: Emmi Laine