Singapore firms to invest in $16 bln China farm project
- Reuters
- 21 May 2010
Singapore plans to help develop a $16 billion agricultural project in northeastern China as the city-state aims to boost its food security.
Singapore plans to help develop a $16 billion agricultural project in northeastern China as the city-state aims to boost its food security.
Singapore could gain access to a major new source of meat, fruit and vegetables if a massive new farming project in north-eastern China takes off
Government of Singapore has set up a fund to support feasibility studies on investments in overseas food zones, overseas contract farming and other non-traditional sources of food security for the city-state.
Foreign investors from China, Korea and Singapore have expressed their readiness to invest in the projects to cultivate including paddy to supply for domestic demand.
Indonesian global palm oil giant, Golden Agri-Veroleum will invest more than US$1.6 billion dollars on more than 240,000 hectares of oil palm to boost the country’s oil palm sector.
In the area of food diversification, AVA will co-fund feasibility studies on investments in overseas food zones, overseas contract farming and sourcing of rice, chicken, pork, fish, eggs and leafy vegetables from non-traditional sources or existing sources that are not major exporters to Singapore
The planned expansion of plantations in the Papuan provinces of Indonesia should be immediately suspended and reviewed amid concerns over massive deforestation and widespread exploitation of local communities, environmentalists warned today.
Vita Grain Group, which is backed by US $60 million of funding, owns more than 20 different strains of hybrid rice seeds. Vita Grain is looking for funding to expand its seed production beyond Africa to Asia, the US and South America. The company is also setting up a rice mill in Mauritius and is in talks with partners in Botswana, Madagascar and Mozambique to develop rice production units.
China's sovereign wealth fund, China Investment Corp, has bought a 14.5 per cent stake in grain trading and production firm Noble Group for US$850 million.
The Australian almond plantations of agribusiness group Timbercorp have been sold to Singapore-based multinational food giant Olam International for $128 million.
Le ministre des Affaires étrangères mauricien affirme que son gouvernement a acquis au Mozambique une vaste étendue de terre destinée à la production de riz pour son pays.
More land will be set aside for growing food while companies will be encouraged to work with farms overseas to ensure that Singapore has a ready and stable supply of produce.