Hyundai Heavy Industries Co., the world’s largest shipbuilder, bought 67.6 percent of a Russian farm to grow corn and soybeans, heeding a call by the Korean government to help ensure food security. The shipbuilder purchased the stake from a group of New Zealand investors for $6.5 million and plans to produce 60,000 metric tons of corn and soybeans in 2014.
South Korea's Hyundai Heavy Industries yesterday announced it planned to lease 50,000 hectares of farmland in Russia's far east, in the latest sign of Seoul's push to increase its food security by outsourcing agricultural production overseas, writes Javier Blas
Saudi Arabia is putting $800m into a new public company that will invest in overseas agricultural projects. The move signals a large step-up in Riyadh’s efforts to outsource supply for the kingdom’s food needs.
Not a day goes by without new acreage being signed over. "For Sale" ads for agricultural property are now featured in the international financial press. And there's no dearth of clients.
Two of the world's biggest land investors - Saudi Arabia and South Korea - have announced moves to improve their food security. A South Korean company is to buy 125,000 acres in Russia over the next four years and a Saudi group has set up a £600m fund to buy land.
South Korea's largest shipbuilder, Hyundai Heavy Industries, announced it will buy a big tract of Russian farmland in the latest move by Korean firms to help their crowded country secure stable food supplies.
The Saudi Cabinet on Monday approved establishing a SR3 billion agricultural investments company that will partner the Saudi private sector in the quest to achieve food security in the Kingdom.
An agricultural investment firm owned by the Saudi government will focus on investing abroad to cultivate mainly wheat, rice, sugar and soybeans, a senior agriculture ministry official said on Monday.
With food prices rising across the globe, adventurous foreign investors can find excellent business opportunities in Ukrainian agricultural sector despite (or perhaps due to?) the global economic crisis.
Jordan will dispatch a delegation to Sudan next Thursday headed by its agriculture minister Saeed Al-Masri to discuss an agreement on developing food farms in the East African country, according to media reports.
Madagascar has “definitely abandoned” a $6 billion farming agreement with Daewoo Logistics Corp., though may welcome agriculture investment in the future, Minister of Land Reform Hajo Andrianainarivelo said.
The International Finance Corporation, the World Bank's private sector lending arm, will nearly double its investment in agribusiness in Africa to $200 million during the 2009 fiscal year, a senior official said.
