The Brazilian state of Minas Gerais will host the future China-Brazil Agricultural Science Industrial Park, in Paracatu, the department of commerce of China’s central Hunan Province announced.
The park will be built by LongPing Agriscience and its subsidiary LongPing High-Tech Brazil, under an agreement between the company and the municipality of Paracatu.
Shi Liang, general manager of LongPing Agriscience, said the park will create a platform for Chinese companies to grow in Brazil and help generate new employment opportunities in the region.
Chinese seed company LongPing High-Tech investing USD 100 million to grow in Brazil
The China-Brazil Agricultural Science Industrial Park provides a good model for cooperation between China and Brazil, and among the BRICS countries, said Tian Min, Chinese Consul General in Rio de Janeiro.
The park is investing in the construction of two seed processing plants and three cold storage facilities of seed, all of which are expected to be operational by the second half of this year.
Chinese universities, enterprises and international organizations are also planned to settle in the park. The project was originally planned to be signed in 2020 but was postponed owing to the pandemic.
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