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FIRST CHINESE GOVERNMENT DEAL WITH OVERSEAS EQUINE PARTNER
IRELANDISTOHELPCHINAESTABLISHITS FIRST BILLIONDOLLARNATIONALEQUINEFACILITYINA DEALTHATISEXPECTEDTOBEWORTHUS$50MTO THEIRISHECONOMYWITHINNEXTTHREEYEARS. The project to develop aTianjin-based horse racing and
breeding industrywas announced by Minister forAgricul- ture, Food and theMarine, Simon CoveneyTD, during a trademission inApril. Itwill be the first Chinese government involvementwith
an overseas joint venture in horse racing and breeding. Phased opening of theTianjin Equine Culture City (TECC) facility is due to start in 2013. The project,which is estimated to be valued at US$2bn includes: 4,000 horse stalls; state-of-the-art horse clinic; 150 trainers’ offices; five training tracks; two international standard race tracks; grandstand; clubhouse; international equestrian college; and horse auction house. The joint venture partners involved in developing the
operation are theTianjin State FarmsAgribusiness Group; theTAKGroup, aMalaysian development organi- sation; and Coolmore Stud.Tianjin State FarmsAgribusi- nessGroup and theTAKGroup are the overall partners for the project. Ireland’s involvement in the project includes the initial
establishment of a stud farm, stockedwith broodmares sourced in this country. The beginning of the breeding pro- grammewill involve importing over 100mares in the next three years, aswell as the acquisition of stallions over the period. Coolmore Studwas invited as the initial joint venture
partner, but therewill, according to the Department of Agriculture, be opportunities formany other Irish compa- nies and individuals to participate in the project as it develops. Irelandwill also host seven of China’s top agriculture
graduates,whowill spend twomonths at Coolmore learn- ing about the industry andwhat is required to establish a top-class equine operation.
TheTianjin project representatives at the announcement inApril of the establishment of the first billion dollar national equine facility in China
Speaking inTianjin, Minister Coveney said the partner-
ship agreement arises fromthe preeminent position that Ireland holds in the thoroughbred breedingworld. “This initiative should facilitate the development of amajor exportmarket for horses fromIreland and has the poten- tial to provide a range of business opportunities for compa- nies and individuals in Irelandwho can bring awide range of expertise to the project,” he said. “I hopewe could quickly enter into a strategic partner-
shipwith captains of the horse industries,” saidBai Zhisheng, chairman of the Chinese government-owned, Tianjin State FarmAgribusinessGroup. “Ireland is a world leaderwhen it comes to best in class trainers and breeders, andwe are delighted to be partneringwith Cool- more, as it helps ensure our newnational TECC project is firmly established inTianjin.Wewould like to accelerate the progress of the development of TECC to get it com- pleted, andwith high-level partners thiswill help us achieve it” JPMagnier, speaking on behalf of Coolmore Stud, said
this sector plays a huge part in the Irish economy, cur- rently generating €1.1bn annually. “This industry is somethingwe are good at, and today
one of the biggestmarkets in theworld has recognised that and has chosen to partnerwith Ireland.”
Issue 4 Spring/Summer 2012 INNOVATION IRELAND REVIEW 67
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