farmlandgrab.org | Print | Chinese food and wine companies may invest in farms in Bulgaria

Chinese food and wine companies may invest in farms in Bulgaria

Bloomberg | May 13, 2011

By Elizabeth Konstantinova

Tianjin State Farms Agribusiness Group Co, a Chinese farming group, wants to invest 100 million lev ($73 million) to set up farms in Bulgaria, while Dynasty Fine Wines Group Ltd. (828) wants to buy a winery, Bulgaria’s Agriculture Ministry said.

Dynasty, a winemaker based in Tianjin, China, that’s part owned by Remy Cointreau SA (RCO), France’s second-biggest liquor company, plans to buy a Bulgarian winery and lease or buy vineyards to produce wine and sell it in China, the ministry said in an e-mail today.

Tianjin State Farms plans to buy 10,000 hectares (24,710 acres) of land in north-western Bulgaria to grow corn and other fodder crops that will be shipped to China, the ministry said.

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Bloomberg http://www.bloomberg.com/news/2011-05-13/chinese-food-and-wine-companies-may-invest-in-farms-in-bulgaria.html