Sydney, Australia (Monday, 15th April 2013) Coolmore Stud in partnership with the China Horse Club had an active presence at this week’s Inglis Australian Easter Yearling Sales, which included the purchase of two colts by Fastnet Rock, one for AUS$2.4 million and another for AUS$1.5 million. All yearlings purchased will be trained in Australia.
This week’s yearling purchases are part of the ongoing collaboration between Coolmore and its joint venture partners in China. This included the announcement last year where Coolmore Stud was invited to partner with the Chinese Government owned Tianjin State Farms Agribusiness Group and Desert Star Holdings, an affiliate of the China Horse Club, to establish the breeding operation for China’s major new world class Tianjin Equine Culture City (TECC) project.
The TECC project will be the first of its kind in China and marks the first Chinese Government involvement with an overseas joint venture in horse racing and breeding. This new venture will help China (with a population of 1.3 billion and the second largest source of wealth in the world, after the USA) to develop a horse racing and breeding industry.
Located at Tianjin, the trading entrance for Beijing and China’s fourth most populated city, with over 12 million people, Tianjin is also home to 260 of the Fortune 500 companies.
Phased opening of the facility will commence later this year. This will also see Tianjin hosting China’s richest ever race day, which includes the inaugural running of the 1,000,000 RMB Tianjin National Cup. Tianjin has a proud history of horse racing and this year will celebrate a renaissance of racing one hundred and fifty years after the first race meeting was held on the outskirts of the city.
Desert Star Holdings is led by its Chairman, Harvard-trained, Mr. Teo Ah Khing, whose TAK Design was also responsible for the design, development and delivery ahead of schedule of the world’s largest international horse racing facility in Meydan Grandstand and Racecourse in Dubai, United Arab Emirates. Mr. Teo is also responsible for the creation of the China Horse Club which is the exclusive membership group associated with the Tianjin Equine Culture City (TECC).
The major new world class Tianjin Equine Culture City (TECC) project is estimated to be valued at circa US$2 billion dollars includes:
4,000 horse stalls;
- State-of-the-art Horse Clinic;
- 150 trainers’ offices;
- Training tracks;
- An international standard racecourse;
- Signature grandstand and Clubhouse;
- International Equestrian College; and
- Horse auction house
The project covers an approximately 3.3 million square metres site in Panzhuang, Ninghe County in Tianjin, of which approximately 820 acres of land will cover the immediate needs of the horse industry. It will also include extensive facilities for all training support services, including farriers, grooms, administrative organisations, feed and bedding suppliers and transportation providers. A world class breeding facility will be located outside the Tianjin Equine Culture City (TECC) and will be a vital supply chain to China’s thoroughbred industry.
Housed in farm-like settings, these world class facilities in Tianjin, will be compared to centres of excellence in the Hunter Valley in Australia, Kentucky in the USA, Deauville in France and the Hokkaido breeding and training centres of Japan.
Coolmore’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, which has commenced, will involve the agreement to import over 100 mares over three years. The project will also involve the acquisition of stallions over the period. While Coolmore was invited as the initial joint venture partner, there will be huge opportunities for many other companies and individuals to participate in the project as it develops.
The partnership is moving ahead on schedule, with the first group of horses due to travel to China later this year.
As part of the partnership, Coolmore has also hosted seven of China’s top Agriculture graduates from the Inner Mongolia Agricultural University, who are learning the skills required to establish a top class equine operation.
Speaking at the Inglis Australian Easter Yearling Sales this week Mr. Tom Magnier said:
“This week’s partnership with the China Horse Club, which included the purchase of two yearling colts by our champion sire Fastnet Rock was an extension of our relationship announced last April. This major new Chinese project is great news for the world horse racing and breeding industry. It opens up a huge new market internationally, with great potential. We are very excited by the continued growth in this relationship. These horses will all be trained here in Australia”.
Mr Teo Ah Khing, Chairman of Desert Star was equally as enthusiastic about the future:
“Coolmore has been a meaningful partner for Desert Star. We are excited about the venture we share together as well as additional ventures in other parts of China where we have been invited. The future is bright”.