Arab Today, arab today shanghai pengxin group eyes new zealand dairy farms
Last Updated : GMT 08:04:07
Arab Today, arab today
Arab Today, arab today

Shanghai Pengxin Group eyes New Zealand Dairy Farms

Arab Today, arab today

Arab Today, arab today Shanghai Pengxin Group eyes New Zealand Dairy Farms

Beijing - Arabstoday

The giant Chinese Shanghai Pengxin Group Ltd. said Thursday that its wholly owned, Hong Kong-based subsidiary Milk New Zealand Holding Ltd. has lodged an application with New Zealand's Overseas Investment Office for approval to buy 16 dairy and dry stock farms in New Zealand's central North Island. The farms in question, covering some 8,000 hectares, are currently in receivership and receiver Brendon Gibson wasn't immediately available for comment. An OIO spokesman said that once the OIO receives the application it will carry out an initial assessment that will likely take around five days. A full assessment is expected to take 50 days. The Chinese government in September gave ministers greater flexibility when assessing overseas investment applications for sensitive land. Among other things, ministers must consider whether New Zealand''s economic interests are adequately safeguarded and promoted. Any farmland greater than five hectares is considered sensitive land. If the purchase is approved, Milk New Zealand will invest more than NZ$200 million initially to buy the properties and related assets and upgrade the farms over a two-year period, it said in a statement. The company will establish a wholly owned unit, Milk New Zealand Farming Ltd., to run the farms. Spokesman Cedric Allan said the company would prefer to work in partnership with New Zealand processors rather than establish a new facility. The farms will initially continue to supply raw milk to Fonterra Co-Operative Group Ltd., however, "the aim is to add value to the raw milk produced on the farms by developing new products for export to the booming Asian market, recognizing the strong demand for dairy products in China," Milk New Zealand said. It will create and brand baby formula, ice-cream and cheese, among others. Shanghai Pengxin Group has investments in commercial and residential real estate, infrastructure, mining, finance and agriculture, and increasing involvement outside China, the statement said. It currently operates in China and Bolivia, and has agricultural interests in Argentina and Cambodia.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today shanghai pengxin group eyes new zealand dairy farms Arab Today, arab today shanghai pengxin group eyes new zealand dairy farms

 



Arab Today, arab today
Arab Today, arab today Nasima Gamei revives Algerian heritage in jewelries

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives Algerian heritage in jewelries
Arab Today, arab today Saudis await visitors but will they come?

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Mental conflict endures

GMT 07:36 2017 Friday ,24 February

Mental conflict endures
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success

GMT 06:25 2017 Thursday ,23 February

Bupa Arabia sponsors SMEA forum

GMT 06:11 2017 Thursday ,23 February

Football: Turkish company wins Qatar World Cup contract

GMT 05:46 2017 Thursday ,23 February

SABIC net profits fall in 2016

GMT 21:01 2017 Wednesday ,22 February

Saudi Aramco mulls offering citizens discounted shares

GMT 16:50 2017 Wednesday ,22 February

Yahoo salvages Verizon deal
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Wafaa Amer is happy for Sherihan’s return

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday