China Investment Corp, the nation's sovereign wealth fund, is considering investing in Tasmania's dairy industry, according to the premier of the Australian state, Lara Giddings.
"The reality is that Tasmania is resource rich but short on capital," she said in a statement on Monday.
Giddings met with government and business leaders, including CIC President Gao Xiqing, in Shanghai and Beijing earlier this month.
"My discussions with CIC were primarily around dairy, but during the meeting I pitched a range of investment opportunities, including mining and irrigation," she said.
The Australian Financial Review reported on Monday that CIC executives visited Tasmania this month and inspected Van Diemen's Land Company's Woolnorth station, Australia's largest dairy farm, and other dairy operations owned by Little Lion, which are currently on the market for about A$80 million ($83 million).
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