Zhong Fu receives approval to develop Western Australian agricultural project

A Chinese property company was awarded the rights on Tuesday to develop a farm project in Western Australia, following a series of high-profile deals related to agricultural resources in the country involving Chinese investors.

The Chinese real estate conglomerate Shanghai Zhong Fu (Group) Co Ltd plans to set up a sugar-manufacturing project after being chosen to lease and develop 13,400 hectares of irrigated farmland in the Kimberley region, according to a statement issued by the Western Australian government.

The Chinese company operates in the country as Kimberley Agricultural Investment, or KAI.