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China Invests in Agricultural Land in Bulgaria
The Chinese state company Tianjin Agribusiness Company made its first investment in Bulgaria, the Bulgarian Ministry of Agriculture informed today. The company rented 20,000 decares of land in Bulgaria's Northwestern Region (near the town of Vidin) on which it will grow corn, forage, and sunflower. This is the first stage of the 10 million euro project as the company intends to invest 20 million euro more in Bulgarian agriculture with some of the funds going into animal breeding.
Company representatives came to Bulgaria as early as in spring and stated their intentions to invest in the country’s agricultural sector. They said they were planning to rent up to 100,000 decares as part of them can be in the area of Elhovo and Yambol.
The agricultural produce will be exported to China for the company’s needs. The company specializes in the food processing industry, agriculture and stock breeding. It also has a metal processing factory, real estate companies and business parks.
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