CHANGSHA, May 16 (Xinhua) -- An agreement has been signed to build the China-Brazil Agricultural Science Industrial Park in Paracatu, located in the state of Minas Gerais in Brazil, the department of commerce of central China's Hunan Province said Monday.

The agreement was inked on Friday between China's Longping Agriculture Science Co., Ltd. (LongPing Agriscience) and the municipality of Paracatu. The park will be built by LongPing Agriscience and its subsidiary LongPing High-Tech Brazil.

The project was originally planned to be signed in 2020 but was postponed owing to the pandemic.

Since last year, the park has expanded investment for the construction of two seed processing plants and three cold storage facilities of seed, all of which are expected to be operational by the second half of this year.

Chinese universities, enterprises and international organizations have also settled in the park.

Shi Liang, general manager of LongPing Agriscience, said the park will create a platform for Chinese companies to grow in Brazil and help generate new employment opportunities in the region.

The China-Brazil Agricultural Science Industrial Park has provided a good model for cooperation between China and Brazil, and among the BRICS countries, said Tian Min, Chinese Consul General in Rio de Janeiro.