US-based Infinity Group and its partner the LR Group , have announced plans to build and finance the new Beijing Eco-Valley Project, the first Sino-Israeli ‘smart’ agricultural city.
The project is a joint initiative between Infinity Group, food industry giant COFCO Group, and the City of Beijing, with the support of the Israeli Government. COFCO is one out of five top Chinese brands worldwide.
Infinity and its partner the LR Group will invest around RMB1bn (0.16bn) in Eco-Valley and its agricultural project. The total size of Eco-Valley will be 11.2km2.
Eco-Valley Project will include high-end agricultural production, high-tech demonstrations, an ecological landscape, agriculture tourism, resort hotels, as well as commercial and residential properties.
As per the agreed terms, the partners will contribute to building and promoting Eco-Valley, while the residents will support the advancement of agricultural development and share the value produced by the local R&D center and local technology innovation.
COFCO is planning to employ agri-tech and resources provided by Infinity's network of technology and expertise to improve food quality.
In addition, Infinity and LR will provide a professional team for Eco-Valley's agricultural operation.
Commenting on the project COFCO chairman Ning Gaoning said that the Eco-Valley project is a new model that is a combination of agriculture, industry and service to promote value and to create harmony between human beings and nature.
Infinity Group founder and managing partner Amir Gal-Or said, "We are also extremely proud that the first smart agricultural city, of hopefully many to come, is built on the foundation of a strong partnership with industry leader COFCO. 20% ownership in the Eco-Valley project is an attractive investment."
