China buys $3M Hectares of Ukraine
September 25 , 2013
China has signed a deal with Ukraine, which will help the country meet its demand for food by being able to plow into three million hectares of farmland in Ukraine. China will initially receive an area as big as the size of Hong Kong and will eventually acquire more in a span of 50 years.
It is interesting to note that the total area that the country will eventually farm would roughly be the size of Belgium. The 3 million hectares that it has bought is equivalent to five percent of Ukraine's total land and 9 percent of its land that is farmable.
According to the Post, the land would mainly be used to grow crops and raise pigs and the produce would be sold to two Chinese state-owned grain companies.
Although, the price of the deal is yet unknown, reports suggest that China is paying over $2.6B, which will be an "unprecedented foreign investment" for Ukraine.