Infinity signs investment and operation agreement with the City of Beijing and COFCO in prelude to Israeli Prime Minister’s Visit to China Next Week
BEIJING, May 3, 2013 /PRNewswire/ -- Infinity Group, a cross-border, private equity platform and its partner the LR Group , announced today that is has committed to taking part in building and financing 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 the LR Group will participate in an investment in Eco-Valley and its agricultural project in excess of 1B RMB. The total size of Eco-Valley will be 11.2 Sq. kilometers.
The announcement was made at a signing ceremony this morning in Beijing, two days before the arrival to China next week by Prime Minister of Israel Benjamin Netenyahu. This will be the first visit to China by an Israeli prime minister since 2007. During his visit, Prime Minister Netanyahu is scheduled to promote business between China and Israel.
Today’s ceremony was attended by His Excellency, Ambassador to China from Israel, Mr. Matan Velnai, Chairman of the Board of COFCO Group, Mr. Ning Gaoning, Vice Chairman of COFCO Group, Mr. Zhou Zheng, Managing Partner of Infinity Group, Mr. Amir Gal-Or and the District Mayor of Fangshan, Beijing, Mr. Qi Hong.
According to the agreement, the aforementioned will collectively contribute to building and promoting Eco-Valley. Residents will support the advancement of agricultural development and share the value produced by the local R&D center and local technology innovation. COFCO plans to use agri-tech and resources provided by Infinity’s network of technology and know-how to improve food quality. Infinity and LR will also provide a professional team for Eco-Valley’s agricultural operation. Project features are to include high-end agricultural production, high-tech demonstrations, an ecological landscape, agriculture tourism, resort hotels, as well as commercial and residential properties.
Ambassador Velnai said, “This model of cooperation is a symbol of China-Israel cooperation in the area of technology, agriculture and innovation. Many companies are expected to take part is such a dream.”
Chairman of the Board of COFCO Mr. Ning Gaoning said, “The Eco-Valley project is a new model which combines agriculture, industry and service to promote value and to create harmony between human beings and nature. We intend to be responsible for the people, the environment and the earth by developing safer and healthier food. Concurrently, we will actively explore the issues of agriculture and farming in the rural areas, with the interest of striking a balance between urban and rural and building a new countryside. We believe the Eco-Valley project will be driven by Israel’s advanced agricultural technology with the support of Infinity Group. With the close relationship between Israel and China and the efforts of Ambassador Velnai, we hope more and more Israeli companies and advanced agricultural technology will be introduced to China to promote a win-win for the companies of the two countries.”
District Mayor of Fangshan, Beijing City, Mr. Qi Hong said, “The Eco-Valley project is the key project for increasing the quality of agriculture in the Fangshan District. We believe that the introduction of Israel agri-tech along with Infinity’s support, will help perfectly to successfully implement this project.”
Amir Gal-Or, founder and managing partner of Infinity Group said, “Since 2003, Infinity Group has trail-blazed the area of Chinese-Israeli technology and innovation cooperation. Though others have followed, it is Infinity Group that has always led the way in terms of vision and implementation of new concepts and entities like the IP Bank. Today we are very pleased to announce our most recent initiative, the 'smart agricultural city', intended to take innovation cooperation to the next level. 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."
About COFCO
COFCO is the largest supplier of diversified products and services in the agricultural products and food industry in China. It is devoted to utilizing renewable natural resources to provide healthy and nutritious food, high quality lifestyle and services, as well as contributing to improve people’s living standards, social prosperity and stability. Holding the belief that "Natural Resources, Source of Nature Reshapes You and Me", COFCO strives to promote its cooperation with global partners in the course of transformation and development. By building a "Fully Integrated Agri-food Company", COFCO will provide real and long-standing value for its customers, shareholders, employees and other stakeholders. COFCO is the only grain, oil and food manufacturing company in China to be listed on the Fortune 500. It has been on the list for 19th consecutive years. For more information: http://www.cofco.com/en/
About Infinity Group
Infinity Group, which in 2013 is celebrating 10 years of actively working in China, is a cross-border platform known for its strong roots in China, its vast, global network of technology and innovation, and its "China Outbound" initiative, which supports Chinese companies with an interest in international business. It is also the founder of the Infinity IP Bank, the hub for IP development and commercialization in China. To date, the IP Bank has led 10 cross-border deals. Infinity Group currently manages RMB 10 billion and 100 portfolio companies, through 17 local RMB funds throughout China, making Infinity the owner of more RMB funds than any competitor. Infinity employs 80 industry professionals and to date has made 100 deals and 25 successful exits. Sectors of focus include: information technology, medical device and services, water clean tech, agriculture and materials. Infinity currently has offices in Beijing, Changzhou, Chengdu, Chongqing, Harbin, Hong Kong, Hongze, Jining, New York, Nanjing, Ningbo, Shanghai, Shijiazhuang, Suzhou, Suqian, Tel Aviv, Tianjin, Xiamen and Yangzhou. For more information, please visit www.infinity-equity.com .
Press Contacts:
Marjie Hadad, marjie.hadad@infinity-equity.com, +972-54-536-5220 For Chinese language inquiries: Joey Zhu, joey.zhu@infinity-equity.com, +86-136-0121-2411
