Wuhan Conti Poultry Breeding Farm Limited

MIGA issued coverage to Continental Enterprises Ltd., a subsidiary of Continental Grain Company of the United States, for two projects in China. Continental will construct and operate Wuhan Conti, a poultry breeding farm, which will be owned by Continental and a Chinese government owned corporation. Fertilized eggs from the farm will be sold to a nearby hatchery wholly owned by Continental. The Bank of Agriculture of Wuhan City is also extending long-term loans to both projects. MIGA has signed two contracts with Continental for $4.4 million against the risks of expropriation and war and civil disturbance.

The projects will stimulate the local economy by increasing the purchase of supplies, generating higher government revenues, and creating additional jobs. Together, the projects will employ 175 people in the construction phase and create 140 permanent jobs by the fifth year of production. Employees will receive training in modern poultry husbandry techniques. Additionally, Conti Agricultural, the hatchery, will purchase a substantial amount of locally-produced packaging materials and electricity.