Published On: Tue, Jul 13th, 2021
World | By

Chinese State-Owned Firm to Sell Off Huge Parcel of Australian Farmland for $120Mon July 13, 2021 at 6:14 am

Cirtrus.com: Save 10% on Citrus trees with code CITRUS
Share This
Tags

China’s Shenhua is looking to sell off a huge portfolio of farmland in the Liverpool Plains in regional New South Wales (NSW), just months after the company was paid $100 million (USD75 million) to walk away from a mining lease in the area. Shenhua Watermark Coal has put the combined 16,570 hectares of land it acquired in Breeza, Barraba, and Tambar Springs on the market for an asking price of $122 million (USD 91 million). A successful sale will signal the end of Shenhua’s attempt to develop a $1 billion (US$749 million) coal mining project, which was expected to yield 10 million tonnes of coal per annum, over a 30-year period. David Goodfellow, managing director at CBRE Agribusiness, said the properties would be sold as a whole or as separate parcels. “One of the things we are pretty focused on is giving the opportunities to locals to buy that land …

About the Author

-