Sino Agro Food, Inc. an emerging integrated, diversified agriculture technology and organic food company with subsidiaries operating in China, has signed a joint venture with SanJiang Agriculture Co. Ltd., a China State owned agriculture company.
SanJiang A Power Agriculture Development Co. Ltd., a subsidiary of Sino Agro Food, Inc., holds a 45% equity interest in the project.
The Joint Venture allows SanJiang Agriculture to license the company's Bio-Organic Fertilizer and Stock-Feed technology.
The technology provides for the processing of agricultural waste products (i.e. corn stems, sunflowers stems, rice stems, wheat stems, sweet potatoes leaves, peanut leaves etc.) through a series of germination processes converting the wastes into nutritional feed stocks suitable for the consumption of cattle and sheep.
The finished product has a long shelf life, high nutritional value and can be stored outside without being affected by rain or snow.
The by-product of this process is then used to manufacture the company's Bio-Organic fertilizer.
This project is estimated to produce approximately 2,000 tonnes of feed stock, 2,000 tonnes of organic fertilizer and 4,000 tonnes of combined fertilizer in 2009.
By 2012 production should grow to over 100,000 tonnes of feed stock, 45,000 tonnes of organic fertilizer, 90,000 tonnes of combined Fertilizer and 50,000 tons of special dairy cow feed.
The Chinese government is supporting the project with rebates up to 33% in investments costs and tax breaks and free value added tax up to 5% of revenue.
Under the joint venture, SanJiang will provide the land and factory buildings and Sino Agro Foods provides the technology, know-how and management of the operation.
SanJiang Agriculture engages in cattle and sheep farming, sun flower plantations, slaughter houses, starch manufacturing, potato plantations, pig farming, fisheries and property development. The company currently employees a total of 35,000 people.
Sino Agro Food
is an integrated, diversified agricultural technology and organic food company focused on developing, producing and distributing agricultural products in the Peoples Republic of China.
Current lines of business include the manufacture and distribution of bio-organic fertilizer and stock-feed, as well as, fisheries, dairies, and Hylocereus Undatus (Red Pitaya cactus) plantations.
Currently the Company has total employment of 520 persons of which 60 are skilled and experienced management staff.