China Deepens Angola Food-Supply Ties With Second Deal in a Week

Sinohydro Group of China will invest more than $100 million in Angola to develop new sources of grain imports — the second agriculture-related deal agreed between the two countries this week.

Angola granted Sinohydro a 25-year, tax-free land concession to develop 30,000 hectares across six eastern provinces in an agreement signed late Thursday in Luanda, the capital. Four days ago, a unit of Chinese state-owned conglomerate Citic Ltd. announced it will spend $250 million developing large-scale soybean and corn farms in Angola.