2:10 pm China Green Agriculture announces that its affiliate, 900LH.com Food has entered into an agreement to jointly build an Agricultural Comprehensive Development Base Project with the Shiquan County Government in China (CGA) : The total investment on the Project is expected to be ~$480 mln, with the initial investment of ~8 mln to be made in spring 2015.
During the first phase of the foregoing project, 900LH.com will focus on building an ecological farm base. The base will include leisure farming, sightseeing, and sales of agriculture products. The total investment of the first phase would be ~$160 mln including the cost of relocating local residents. In the second phase, the ecological farm will develop into a modern agriculture farm. The modern farm's operation will include and not limit to, planting, breeding, agricultural products processing, and tourism. The investment of the second phase would be ~$320 mln.
The Company and 900LH.com have entered agreements that the Company's fertilizers will be exclusively supplied to all plants and agricultural products in the Project and 900LH.com will promote the Company's fertilizers to all its affiliated farms. In the Project, 900LH.com, the Company, and the government in Shaanxi Province will collaborate closely.