Chinese company leases 13,000 hectares of land for agriculture in Western Australia
20 Nov 2012
Western Australia said it was willing to hand over more land to China and other foreign investors, after a Chinese company clinched a deal for the lease of over 13,000 hectares of prime agricultural land in its Kimberely region.
The state would lease vast tracts of land in the Kimberley for up to 50 years to Chinese conglomerate Shanghai Zhongfu. These have become viable due to the $500 million federal and state Ord River irrigation scheme.
Ord Stage Two, a $300 million plus taxpayer-funded program forms part of a state and federal government plan meant to create a northern food bowl.
Shanghai Zhongfuoperate in Australia as Kimberley Agricultural Investment.
The Chinese real estate company plans to build a $450-million sugar mill near Kununurra, which would produce 4 MT of sugar cane and 500,000 tonnes of export sugar crystal.
The deal was confirmed today by Western Australia premier Colin Barnett and regional development minister Brendon Grylls following widespread reports last week that the Chinese company had beaten Australian Agricultural Company, which wanted the land to grow cotton.
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