China Railway International Group (CRIG) has recently signed an agreement with Papua New Guinea (PNG)'s authorities about the land-use right transfer to support construction of an agricultural industrial park under the Belt and Road Initiative.
Under the agreement, the Chinese company will own the use right of the lands in the Eastern Highlands Province and the Western Highlands Province in PNG for 99 years. The lands cover an area of more than 6,000 mu (15 mu equal one hectare).
The lands are located in the core area of the China-PNG agriculture industrial park under the Belt and Road Initiative, co-built by China Railway Group (CRG), parent company of CRIG, Fujian Agriculture and Forestry University, and provinces of PNG.
It will become a China-PNG comprehensive agricultural demonstration park integrating planting, breeding, deep-processing, inspection and quarantine, and independent customs declaration.