A Chinese company has bought one of Australia’s largest cattle stations for $76 million. Shanghai Zhongfu, trading in Australia as Kimberley Agricultural Investment (KAI), acquired the 476,000-hectare Carlton Hill station in far north Western Australia (WA)…Full Article: China Daily Aug 2016

Key Point

  • In March 2016, Australia’s Foreign Investment Review Board (FIRB) approved the acquisition of Carlton Hill station by Kimberley Agricultural Investment (KAI). As a result of the purchase, KAI (aka Shanghai Zhongfu Group) may invest in a sugar/biofuel mill, cotton gin, cattle abattoir and grain grading facility near Kununurra, Western Australia.

ChinaAg Comments

  • In June 2014, Shanghai Zhongfu Group (via Kimberley Agricultural Investments) bought a sugar mill in Kununurra, Western Australia. It was noted that even though sugar production was the long term goal of the Ord irrigation scheme, the mill may be used to process sorghum into ethanol.
  • In November 2012, Shanghai Zhongfu Group won the right to develop 13,400-hectares (US$728 million investment) of farmland in the Ord valley, East Kimberley region, Western Australia.
  • Founded in 1992 and headquartered in Shanghai, Shanghai Zhongfu Group is a private real estate developer. The company manages sweet sorghum (ethanol and biofuel production) and chia seed cultivation in the Ord River region of northern Australia.

Similar Posts by ChinaAg

Spread the word. Share this post!