Leading agribusiness investment manager, Timbercorp Limited, will expand the production base for its first avocado project to include a further 300 hectares of avocado farms to be developed in south west Western Australia.

Including its recent acquisition of more than 600 hectares of avocado forms in Queensland, Timbercorp's avocado project, which will be offered to investors in the 2006 financial year is now expected to generate more than $120 million in project revenues during the next five years, and given its geographic diversification will enable a year-round supply of avocados to the Australian market.

Primary Growth Pty Ltd, a specialist horticulture manager, will be responsible for managing the Western Australian orchards and co-ordinating the packing of the avocados in that state. Timbercorp's existing alliance partner, Chiquita Brands South Pacific Limited and Simpson Farms Pty Ltd will co-market the avocados from both states, to a range of customers, including the major retail chains in Australia.

Source: Timbercorp Limited, Australia