Top Investment Fund Discusses Tasmanian Projects Sat 15 September 2012 Lara Giddings Premier Investment opportunities in Tasmanian agriculture, mining and other major industries have been pitched directly to one of the world's largest sovereign wealth funds. The Premier, Lara Giddings, said it was a great honour to meet directly with the President of the China Investment Corporation Goa Ziqing to discuss investment opportunities in Tasmania. The China Investment Corporation is estimated have more than $440 billion worth of assets under management, making it one of the top five investment funds in the world. "This is an extremely valuable opportunity to talk about Tasmania's natural strengths including abundant water, clean air and strong brand recognition," Ms Giddings said. "The CIC is particularly interested in exploring agricultural opportunities created by our $400 million irrigation program. "That program has helped enable plans that will double dairy production, double the size of the salmon industry and quadruple the wine sector. "Tasmania's dairy industry is currently undergoing an expansion worth close to $500 million Australian to meet the rapidly growing demand for powdered milk in China. "China is our biggest wine market by volume and, interestingly, Europe's leading wine publication 'The Drinks Business' recently ranked Tasmania as second only to China as the best wine investment location in the world. "Tasmania is producing products that are becoming rapidly sought-after by the Asian middle class and there is a significant opportunity to attract Chinese investment in agriculture as the sector expands." Ms Giddings said the Trade Mission had already enjoyed an enthusiastic response to a seminar outlining investment opportunities in the mining industry. Guohua Energy has also signed a share-sale agreement with Hydro Tasmania to purchase a 75 per cent stake in the Musselroe Wind Farm. Ms Giddings said the CIC had investments around the world across a range of different industry sectors. Examples of CIC's investments include Thames Water Utilities UK (8.68%), Horizon Roads toll roads Australia (13.84%), Shanduka Group mining South Africa (25.8%), Atlantic LNG Company Trinidad and Tobago natural gas (10%). CIC usually does not take a controlling role or seek to influence operations in the companies in which it invests. "Investments such as these would provide Tasmanian-based companies with capital and freedom to pursue job-creating projects which provide good investment returns and a broader benefit to the Tasmanian economy."