Replies to post #4855 on Sino Agro Food Inc (fka SIAF)

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http://finance.yahoo.com/news/Sino-Agro-Food-Inc-Receives-bw-1135831855.html?x=0&.v=1

Press Release Source: Sino Agro Food, Inc. On Thursday October 21, 2010, 10:15 am EDT

GUANGZHOU, China--(BUSINESS WIRE)-- Sino Agro Food, Inc. (Pink Sheet: SIAF), an emerging integrated, diversified agriculture technology and organic food company with subsidiaries operating in China, is pleased to announce the results of a recent meeting with HuangYuan government officials as well as provide an update on current projects under construction.

In a recent meeting of Qinghai and HuangYuan government officials in China, the government officially recognized in writing the importance of SanJiang A Power’s project enzyme, bio-organic fertilizer, livestock feed and modern cattle housing operations to its overall regional agricultural development. One of the central committees goals was to, “vigorously support the industrialization of agriculture leading companies; enhance the quality characteristics of the local agricultural and livestock products; make the leading companies become a force for the development of the rural economy”. As a result, the Company will now qualify for additional government grants that will match dollar for dollar investments made by Sino Agro Food starting in 2011.

To date, the HuangYuan government has provided grants totaling RMB 900,000 as well as provided infrastructure support and construction valued at approximately RMB 1,500,000 for the SanJiang, HuangYuan joint venture project.

Construction continues at the SanJiang, HuangYuan joint venture project with the office building now reaching its second floor of construction. The joint venture is also expecting the arrival of its first 120 head of cattle by the end of October. The joint venture has fully booked its sales of 10,000 MT of fertilizer for 2010 with sales prices coming in 20% higher than expected. Feedstock crop harvest averaged 3 MT per MU, which was slightly lower than expected due to previous heavy rains washing out some areas however gains in other business will keep overall revenue at previous estimates.