December 3, 2013
Chinese-backed New Hope Investment Fund has acquired the Kilcoy Pastoral Company export abattoir in southeast Queensland, Australia. This is the first Chinese investment in the Australian beef industry since 1992. New Hope is a China-based investment fund with focus on the agriculture and food industries with interests in overseas chicken and pork production. This is the fund’s first investment in beef and its first in Australia. Kilcoy is Australia’s fourth largest beef processing operation. The facility specializes in grain-fed beef and has doubled its processing capacity since 2007 to a capacity of 265,000 head of cattle per year.
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