China to finance Patagonian farming push

Argentina

A Chinese food conglomerate plans to lend US$1.5 billion for the development of farming operations on 330,000 hectares (815,000 acres) in Argentine Patagonia on condition it can have first priority to purchase food grown on the land for 20 years. The agreement between the company, China’s state-run Heilongjiang Beidahuang Nongken Group, and the government of Argentina’s Río Negro province has caused surprise and debate since its announcement here on Aug. 24, largely on account of the potential scale of its environmental impact. Río Negro Gov. Miguel Saiz has made plain that the project has his full support, claiming that over the next 10 years the project will create 100,000 jobs and double the province’s population, which now stands at 633,000. But in a... [Log in to read more]

Would you like to Subscribe?