Chinese food and wine companies may invest in farms in Bulgaria

Tianjin State Farms Agribusiness Group Co, a Chinese farming group, wants to invest 100 million lev ($73 million) to set up farms in Bulgaria, while Dynasty Fine Wines Group Ltd. (828) wants to buy a winery, Bulgaria’s Agriculture Ministry said.

Dynasty, a winemaker based in Tianjin, China, that’s part owned by Remy Cointreau SA (RCO), France’s second-biggest liquor company, plans to buy a Bulgarian winery and lease or buy vineyards to produce wine and sell it in China, the ministry said in an e-mail today.

Tianjin State Farms plans to buy 10,000 hectares (24,710 acres) of land in north-western Bulgaria to grow corn and other fodder crops that will be shipped to China, the ministry said.