A company from Zhejiang province has obtained a 49-year land lease from Russia to develop modern agriculture and livestock industries on 115,000 hectares of uncultivated land. The deal was sealed between a newly founded subsidiary of Zoje Resources Investment and Russia’s Transbaikal regional government on Tuesday. The total contract value is 176 million yuan ($28.4 million). The pillar business of Zoje Resources is industrial sewing machine manufacturing. It is listed on the Shenzhen Stock Exchange…Full Article: China Daily June 2015

Key Point

  • The Chinese company will use the land to grow vegetables, wheat, and other agricultural commodities. In addition, the company will develop animal husbandry in four areas around Russia’s Transbaikal region (i.e. Zabaykalsky Krai). An additional 85,000 ha (on top of the 115,000 ha) will be offered by Russia if the land lease turns out successful.

ChinaAg Comment

  • In 2004, the Sino-Russian agricultural joint venture “Armada” was established. The agricultural JV covered an area of 40,000 hectares in Russia’s Primorsky Krai region.

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