
CANBERRA, April 5 -- Chinese fertilizer producer Hubei Xinyangfeng has secured its first allotment of farmland outside of China, after it purchased a farm in southern New South Wales, Australia.
The Chinese company, listed on the Shenzhen Stock Exchange, has pledged to spend 50 million U.S. dollars setting up a number of locations in Australia, and began its operation by purchasing the farm for 4 million U.S dollars.
On Tuesday, a spokesperson from the producer said it was hoping to further expand its international operations through opening up a number of Australian sites.
"Xinyangfeng, one of the top fertilizer makers in China, has pledged to invest 50 million U.S. dollars in Australia, including setting up a new 50,000 tonne a year water-soluble fertilizer project and farming business," the spokesperson told News Corp.
Jason Hellyer from Hellyer Consulting, the firm which assisted Xinyangfeng in acquiring the farmland in southern New South Wales, said the purchase would ensure the Chinese company has a "solid" base for expansion in Australia.
"(This) purchase is their first in Australia and through this exercise we think they've now got the template and people in place to help them establish a solid Australian base," he told News Corp.
Hubei Xinyangfeng is one of China's largest producers of fertilizers.
Train rides through blossoms
HD pictures of battleships of PLA Navy
East Sea Fleet conducts combat drills
Sophie Marceau goes square dancing in Guangzhou
Police officers learn Wing Chun in E. China
Charming models compete in super model contest in Beijing
Thai most beautiful transgender Nong Poy release new photos
Now and then photos of Shanghai Jiaotong University
Is this what air travel will look like in 2050?
Top 20 hottest women in the world in 2014
Top 10 hardest languages to learn
10 Chinese female stars with most beautiful faces
China’s Top 10 Unique Bridges, Highways and Roads
Cyber-celebrity culture is warping Chinese youth
Threatened boycott puts Asia's top film fest in crisis
Pet funeral homes help grieving owners gain closure
Lesbian couples resort to foreign sperm banks to evade domestic restrictionsDay|Week