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Chinese set to buy one of Australia’s largest grain farms
January 21, 2016, 5:13 am

According to the report in the  Australian Financial Review , Dashang Group, Hailiang Group, Fucheng Group, Tianma Bearings Group and New Hope are some of the leading Chinese investors who made investments worth AU$260 million since March in Australian farms [Xinhua]

According to the report in the Australian Financial Review , Dashang Group, Hailiang Group, Fucheng Group, Tianma Bearings Group and New Hope are some of the leading Chinese investors who made investments worth AU$260 million since March in Australian farms [Xinhua]

Chinese investors are on the verge of securing the purchase of one of Australia’s largest grain farming properties in the wheatbelt north of Perth in Western Australia (WA).

In July and August alone last year, China invested 120 million Australian dollars in rural properties across Australia.

The deal between John Nicoletti, once regarded as Western Australia’s biggest grain grower, and Hong Kong-based CK Life Sciences was finalized on Thursday pending approval from the Foreign Investment Review Board.

CK Life Sciences is expected to pay close to $24 million for Nicoletti’s farms in the eastern wheatbelt, near Mullewa in the mid-west region of WA. At 70,000 hectares, it is the biggest single offering of freehold land in the state’s history.

CK Life Sciences already holds large investments in Australian agriculture, being a majority shareholder in the Challenger Wine Trust, which has interests in a string of vineyards, and the owner of Cheetham Salt, Amgrow (farm products) and Accensi (crop protection).

Nicoletti told the Western Australia newspaper on Thursday that a string of poor harvesting seasons had left him heavily in debt.

“This deal sets the land value at that close to $208/ha,” he said.

Nicoletti produced about 1.2 tonnes of wheat per hectare in the harvesting season just completed.

CK Life Sciences has strong links to the family of Li Ka-shing, one of Asia’s richest men.

Analysts says more than AU$1 billion worth of deals are in the pipeline for Chinese investors in the Australian farm sector.

Australian Financial Review reports says Dashang Group, Hailiang Group, Fucheng Group, Tianma Bearings Group and New Hope are some of the leading Chinese investors who made investments worth AU$260 million since March in Australian farms.

 

Source: Agencies

7 Responses to Chinese set to buy one of Australia’s largest grain farms

  1. NotLikely Reply

    January 22, 2016 at 7:59 am

    Why can’t foreigners buy land in China?

  2. Sandra Savill Reply

    February 15, 2016 at 11:52 am

    australian land should not be sold to overseas countries, all land should be owned by Australians. It could be leased but not sold, maybe least for 50 to 100 years but no more. There should be strict rules of what they could do on the land and if they break the rules they forfeit the lease. Australian land belongs to future generation of Australians not the chinese

  3. Rusty Reply

    February 15, 2016 at 10:42 pm

    There is an local abattoir, recently purchased by Chinese interests, where a significant number of Australian employees have been replaced with Chinese workers. Am I the only person in Australia (excluding self-serving politicians) that knows this will also be the case with this purchase?

    I have been raised to believe that our State and Federal politicians are elected to act in the best interests of all Australians…..but then I also once believed that a fat man in a red outfit delivered gifts all over the world on Christmas Day?

  4. Darren Reply

    February 16, 2016 at 7:20 am

    why are they allowed to buy Australian land
    But we cannot buy their land , fairs fair
    Our Government is selling us out , this needs to stop
    before we are no longer known as Australia

  5. Adam Bollinger Reply

    February 17, 2016 at 12:04 am

    When will this stop?There is no such thing as a Chinese company.Have we forgot that China is still a communist regime.Therefore its the Chinese Government buying Australias intrests.The politicians allowing this to happen are a disgrace.

  6. Val Alexander Reply

    February 18, 2016 at 8:32 am

    It is terrible that Australian farms are being sold of to overseas interests. But instead of just blaming the Government for not stopping it, how about some blame is laid at the feet of whoever is selling it? And as for the standard answer,”we need overseas investment in our farming” overseas investment is a whole lot different then buying outright. If investment is needed, perhaps Australian Siperannuation funds should think about investing Australians money, in Australia. When everything has been sold of, shipped overseas, I guess the powers to be will say “we should have stopped this from happening”

  7. rg Reply

    April 20, 2016 at 9:22 pm

    Bugger!

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