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Chinese Group investing up to $1b in Australian Agriculture

21/2/2017

The investment announcement was made during an interview with the ABC. Nick Dowling the CEO of Australian Operations for New Hope; China's largest privately owned agribusiness said they were looking for new investments in Premium Australian food operations from lamb to aquaculture.

‘We invest into businesses, we don't acquire businesses,’ says Dowling. ‘We look to work with great partners that have great businesses where we can bring our resources and market access to give life to opportunities that business wouldn't otherwise have. It's all about giving oxygen for those businesses to grow.’

This investment adds to an already diverse Australian portfolio, including a majority share in Kilcoy Pastoral Company (KPC), a beef operation based in QLD.

In an interview with the ABC the CEO of KPC, Dean Goode explained that the investment (finalised in 2013) created 130 new jobs and enabled the company to replace older assets, helping to pave the way for future growth.

‘For the local community it’s been huge, and as the investment comes together we’ll see more jobs created,’ he says. ‘The New Hope name has enabled us to gain access not just in China but globally to financiers, business partners or future customers or suppliers.’

Following its investment in KPC, New Hope entered into an agreement with ASX-listed Freedom Foods Group to set up large-scale intensive dairy farms in southeast Australia.

Founded in China in 1982, New Hope Group has more than 600 subsidiaries in 30 countries, nearly 70,000 employees and annual revenue of approximately ¥80 billion. Its businesses encompass feed production, agriculture technology, food processing, channel construction, facility building and financial services.

Tony Eyres, Senior Investment Specialist, Agribusiness and Food at Austrade, says New Hope’s long-term projects help contribute to a steady rise in China’s foreign direct investment (FDI) into Australia.

- See more at: http://www.investinaustralia.com/news/chinese-group-plans-invest-a1-billion-australian-agriculture#sthash.MCKLRG8a.dpuf

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