China: E Agri signs JV agreement for development of 8-hectare site

E Agri announced the signing of a Joint Venture Agreement with its growing partner in Yixing, Jiangsu Province, China. The 51% E Agri owned joint venture will be trading as Jiangsu E Agriculture Science and Technology Company Limited. Following the first official Board meeting on 20 July 2017, a signing ceremony was attended and formally witnessed by the Yixing Government who is providing broad support to the project.

Pictured (left to right) Mr Li Yi, Jiangsu E Agriculture Science and Technology Company Limited; Mr Xia Yichi, Yixing Yilian Ecological Agriculture Science and Technology Company Limited; Mr. Shi Lihui, Yicheng Sub-District Office in Yixing Government; Mr Patrick Duffy, E Agri; Mr Nigel Blair, E Agri

The joint venture holds 80,000 square meters of land and is strategically positioned between the cities of Nanjing, Wuxi, Suzhou, Shanghai and Hangzhou servicing an estimated population of 100 million people within two hours by road. The site will be progressively developed over 3 stages into a major food production facility servicing these markets with high-quality, safe, fresh leafy green vegetables. Fully developed, the project is expected to generate over US$95 million in annual revenue.

The Yixing facility will be E Agri’s first major site in China. E Agri has two similar holdings in Beijing and Rugao, which it intends to develop in 2018. E Agri is also developing a consumer based model for safe urban food production in community developments across major Chinese cities.

E Agri’s Executive Chairman and Chairman of the Yixing JV, Mr Nigel Blair, said “E Agri’s growing solutions are designed to produce safe vegetables using global standards at a low cost, minimise carbon impact, water consumption and food miles. Our Yixing Joint Venture will provide access for Chinese consumers to the freshest possible leafy green vegetables and herbs, grown year-round in their local environment regardless of climate and free of pollutants. E Agri feels incredibly privilege to be invited to Jiangsu Province by our partner Mr Xia and the Yixing Government.”

This leads on from last month where E Agri also entered into an MOU with a Singapore partner for a 2-hectare development in Singapore where the Singapore Government is focused on food security for its island nation.

For more information:
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