LongPing AgriScience’s subsidiary LongPing High-Tech Brazil and the government of Paracatu signed an international cooperation agreement last Thursday for the construction of the China-Brazil Agricultural Science Industrial Park.
LongPing High-Tech has invested more than R$220 million for the expansion of the factory in Paracatu this year alone, aiming to increase the agricultural production in Brazil, boost its agribusiness, and thus contribute to the development of the region, revealed Aldenir Sgarbossa, President of LongPing High-Tech Brazil.
The Mayor of Paracatu, Igor Santos, hopes to create more opportunities in the municipality which rely mostly on the sectors such as agriculture, animal husbandry, and mining. The Mayor also believes that the industrial park will act as a platform to stimulate numerous Chinese companies to invest in Brazil.
Through the project, an industrial cluster will gradually be formed in South America, creating new development opportunities for China and Brazil and increasing their competitiveness in agribusiness.