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New funds for 10 hectare semi-closed Nectar Farms project in AustraliaThe ten hectare semi-closed greenhouse project of Nectar Farms Group in Stawell, Asutralia, has finalized a long-term funding plan as part of a new investment initiative launched by the Australian National Farmers’ Federation (NFF).
Nectar Farms recently broke ground on the Stawell project. Its worth over $80 million and expected to employ more than 60 people from 2018.
The funding initiative was announced by the NFF in order to attract the investment that is needed for the industry to reach its potential. The initiative includes the establishment of an investment fund known as the “Berkeley Calga Agribusiness Fund” (Berkeley Calga) through a partnership between the NFF and Spar Capital (Spar), a boutique investment firm.
Artist impression of Nectar Farms' project in Stawell
NFF President Fiona Simson said the exciting move was part of efforts to enable the Australian farm sector to achieve a production value of $100 billion by 2030. “For our industry to continue to grow and to be a formidable competitor on the world stage we need investment. Investment in capital, infrastructure and new technologies. And we need to think outside the box when determining how to fund this investment.”
Ms Simson said agriculture was currently enjoying a golden era with unprecedented global demand for the nation’s food and fibre providing growers with overwhelmingly positive terms of trade.
“Now is the time for Australian farming to seize the day. For the first time, agriculture is forecast to achieve a production value of more than $60 billion in 2016-2017. By 2040 the sector is estimated to be worth $1.2 trillion.”
“Each dollar of additional investment in our sector further cements the industry’s place as a leading driver of the domestic economy and its potential to vastly increase this contribution.”
However it all hinges on the capital and infrastructure it needs to achieve this growth.”
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Publication date: 4/14/2017
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