November 13, 2014
Major Chinese agricultural group, Tianjin State Farms Agribusiness Group intends to invest €100 million (US$125 million) into processing agricultural produce in Bulgaria, according to InvestBulgaria Agency. Tianjin State Farms Agribusiness Group plans to attract five additional Chinese companies to join the investment which has already gained approval from the Tianjin Municipal People’s government. In 2011, Tianjin State Farms, which is active in the production and distribution of fruit juices, dairy products, wine, and fish and turf farming, leased approximately 2,000 hectares in Bulgaria for the production of corn, alfalfa, and sunflowers for export to China. Investing in Bulgaria gives Chinese companies access to the European market, providing saving on tariffs, taxes, and operating costs. Bulgaria also can act as a bridge to the markets of Russia, Turkey, Ukraine, and countries in the Middle East.
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