In a deal that demonstrates that China is indeed interested in more technical agricultural opportunities and not just billion-dollar transactions, Quingdao Gather Great Ocean Algae Industry Group Co., China’s second largest processor of seaweed has acquired Australian Kelp Producers and a license allowing seaweed gathering along the Limestone Coast in South Australia. Quingdao plans a further $21 million investment over the next three years into the operation including a new processing plant. The seaweed will be exported for use in food, cosmetics, and medicine.
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