|Guizhou has the ideal soil, weather, terrain and geology for castor cultivation. It also has convenient transportation, conditions for green technology development, economies of scale and economic potential. The Investment Promotion Bureau and Agricultural Technology Agency has been aggressively soliciting foreign investment in the region. Several discussions and meetings were held after the initial contact, and PGCG was eventually invited to carry out the Castor Development Project. This project will have far-reaching and significant benefits because it will stimulate the local economy and improve the farmers’ incomes.
PGCG is proud to enter into the memorandum of understanding with the Sinan county government, which was represented by Vice County Magistrate Madam An De Qiong. The historic event was witnessed by the person in charge of Investment, Green Technology, Agricultural Technology , Territory and Park Management Committees as well as various other officials.
The main contents of the memorandum included the following:
When the plant begins to operate fully, the county government’s revenue will increase by RMB4.36 million, 100 new jobs will be created and the local economy’s revenue will rise by RMB265 million. In addition, 10,000 job opportunities will be generated in the plantation industry.
-In tandem with PGCG’s development plan, the Sinan county government will undertake extensive promotional activities and mobilize the whole county to achieve a production target of 250,000 – 400,000 MU within 1 to 3 years.
- PGCG will undertake to purchase all the castor beans that are harvested in the area.
- The first castor processing plant in Sinan will be located in the Sinan Technology Park. PGCG will inject RMB 30 million for the construction of Phase 1, which will have a built-up area of 100 MU.