Chinese agribusiness consortium Tianjin State Farms Agribusiness Group is planning to invest €100 million to construct an agri business park – an industrial park for agricultural processing – in Bulgaria.
Tianjin, a state-owned enterprise focusing on livestock, crop production and agro-processing, announced the commitment at a Bulgarian investment forum last week organised by InvestBulgaria Agency, a government organisation established to attract investment into Bulgaria.
The investment will fund initial agribusiness facilities and infrastructure for park.
Tianjin has invested in Bulgarian agriculture before in 2011 when it announced a $73 million commitment to buy 10,000 hectares of Bulgarian farmland in the north-west of the country. The deal’s completion was not clear when Agri Investor went to press.
The group also rented 20,000 hectares of land in the same year for animal breeding and crop production, making an investment of $30 million.