Australia’s largest cattle producer, Australian Agricultural Company (AACo) has announced that it will solely fund its new $85 million dollar abattoir which is being built near Darwin.
According to smh.com.au, stage one civil works for the development are now complete.
The AACo have said to have had numerous discussions with proposed joint-venture partners, however they believed that any such deal would not bring strategic value to the project.
“AACo will only consider a joint venture if the partner brought strategic value to the project, such as logistics or distribution capability, on terms acceptable to AACo,” said managing director David Farley.
AACo will fund the project from the sale of two of its properties in Queensland; Brighton Downs and Adelong.
Image courtesy of AACo