Ireland a racing certainty in China plan

Irish horseracing expertise and breeding stock from the world famous Coolmore Stud is to be the foundation for the creation of a horse racing industry in China providing an export market for almost €40m worth of Irish horses annually.

Yesterday, Agriculture Minister Simon Coveney announced a $50 million (€37.5m) Irish export project where Ireland has been chosen as China’s partner to establish their first new $2bn (€1.5bn) national equine facility. China lifted a 60-year ban on horse racing last year.

The announcement gives Ireland first mover advantage into a market which is expected to grow considerably in the coming years. Already Ireland’s export-orientated horse breeders produce more than 40% of all thoroughbred foals in Europe annually.

The Chinese are putting together a world-class Tianjin Equine Culture City (TECC) project, the first of its kind in China, close to Tianjin, China’s fourth largest city and the phased opening of the $2bn centre is expected to commence next year.

Ireland’s involvement in the project includes the initial establishment of a stud farm, stocked with broodmares which will be sourced in Ireland. The beginning of the breeding programme will involve the agreement to import over 100 mares in the next three years.

The Department of Agriculture said while Coolmore was invited as the initial joint venture partner, there will be huge opportunities for many other Irish companies and individuals to participate in the project as it develops.

Speaking in Tianjin yesterday, Mr Coveney, said: “This initiative should facilitate the development of a major export market for horses from Ireland and has the potential to provide a range of business opportunities for companies and individuals in Ireland who can bring a wide range of expertise to the project.

“Coolmore Stud is recognised as a world leader in thoroughbred breeding and is to be commended for their involvement in this major project.”

Coolmore Stud’s John Magnier said they are delighted to be one of the first Irish companies to kick-start this partnership and represent Ireland’s hugely successful horse breeding and racing industries.

“The sector plays a huge part in the Irish economy, currently generating €1.1bn annually. This industry is something we are good at, and today one of the biggest markets in the world has recognised that and has chosen to partner with Ireland”.

Owned by the Chinese government, Tianjin State Farm Agribusiness Group chairman, Bai Zhisheng, said he hopes they can quickly enter into a strategic partnership with captains of the horse industries.

“Ireland is a world-leader when it comes to best in class trainers and breeders, and we are delighted to be partnering with Coolmore, as it helps ensure our new national TECC project is firmly established in Tianjin. We would like to accelerate the progress of the development of TECC to get it completed, and with high level partners this will help us achieve it,” he added.

The project marks the first Chinese government involvement with an overseas joint venture in horse racing and breeding and the proposed Tianjin facility is only 30 minutes by train from Beijing.

It will have 4,000 horse stalls, 150 trainers’ offices, five training tracks and two international standard race tracks.