Market Wire | 6 May 2010
Gaiacor International, PLC (FRANKFURT: VCG), together with its strategic partner MITC Investments, Ltd. (www.mitc-invest.com), has commenced negotiations with Agro North (www.agro-north.com), with the intent of forming a joint venture to acquire and reclaim agricultural land in Argentina.
The core of the opportunity exists from the accumulation of neglected and/or highly degraded agricultural properties in Argentina. Presently, many Argentine farmers lack access to sufficient technology or capital to reclaim the land themselves. The result is farm land that, if placed into production, could strengthen the local economy, boost exports and create employment. Without the technology or expertise to solve the problems the land is often being sold at far below market value.
Gaiacor's team has faced and solved land reclamation issues, similar to those being presented in Argentina, for the past 15 years. Gaiacor uses the propriety systems approach (GaiaSys(TM)) as well as the in-house expertise needed to make this project successful. Land reclamation projects make use of Gaiacor's proven strengths.
Profits will be generated by reclaiming and reselling tracts of land at prices expected to generate a very healthy return in less than two years. The other approach is to restore the agricultural potential of the land and put it under profitable agriculture production. Both of these methods have a positive environmental impact by turning unusable land into land that can reach its full productivity level. At this time 5 separate parcels comprising about 28,000 hectares (69,000 acres) are in consideration.
Pablo Baron, President of Agro North, said, "The political and economic climates have never been better for a reclamation venture." Alberto Fischbein of MITC further commented, "Gaiacor's expertise is just what we need to capitalize on this opportunity."
Gaiacor is reviewing and researching the offering to determine how to best blend this opportunity into the existing project flow.
For further information visit www.gaiacor.com and http://de.gaiacor.com (Deutsche)
For further information contact