Brazil’s Mato Grosso do Sul state and Chinese firm sign agreement

10 November 2009

Campo Grande, Brazil, 10 Nov – The Brazilian state of Mato Grosso do Sul and Chinese company Jiangxi Sanhe International Investment have signed a letter of intent for state authorities to invest in agriculture and forestry projects, officials said.

The preliminary agreement, signed 23 October and published in Monday’s edition of the Official State Gazette, commits both parties to developing farming ventures. These projects are mainly to grow maize and soy beans, rear livestock, grow trees for timber production and develop primary products, particularly honey production.

The agreement lasts for three years with an option for extension for the same period and was signed by state governor Andre Puccinelli and WangLun of the Wangs Group Co.

Wang Group Co, is studying possible investments of US$1 billion in Brazil over a decade in farming and livestock rearing, timber and primary products. (macauhub)