Ukrainian agriculture holding company UkrLandFarming, owned by Oleg Bakhmatyuk, signed a memorandum with Sinomach Automobile Co., a Chinese producer of heavy machinery and equipment, Kommersant-Ukraine reported, citing the company’s press office.
The memorandum envisages $4 billion in Chinese investments into Ukraine’s agriculture industry as UkrLandFarming wants Sinomach to be a strategical partner in constructing grain terminals and upgrading sugar plants, the newspaper said. UkrLandFarming doesn’t plan to sell a stake to Simonach.
Bakhmatyuk spokeswoman Larisa Millings could not immediately tell how UkrLandFarming may form a strategical partnership with Sinomach, when contacted by Bloomberg News.
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