November 14, 2014
A company associated with mining billionaire Gina Rinehart is believed to be eyeing off pastureland near Kingaroy as part of a $500 million project to supply infant formula to China.
Reports today suggest Hope Dairies, controlled by Hancock Prospecting, aims to acquire a total of about 5000ha of land in Queensland as part of a massive dairy export project.
However, southburnett.com.au understands some land in the Kingaroy region may already have changed hands.
A spokesman for Hope Dairies, Jason Morrison, confirmed the project was underway but said speculation on where the farms would be located was premature.
He said the plan was for Hope Dairies to run its own herds as well as buy in milk from other dairy farmers.
The milk would be processed at a specialist drying plant, which would also be owned and operated by Hope Dairies.
There has been speculation today this plant would be constructed in the Mary Valley region, but Mr Morrison again would not be drawn on the location.
He said Hope Dairies would be headed up by businessman and investor Dave Garcia who has been splitting his time between China and Australia in recent years.
Mr Morrison said the project had been under development for several years, and he praised the State Government for its support.
“They made sure that it would come to Queensland which is a credit to them,” he said.
Mr Morrison said the plan was for exports to start flowing in 2016.
Deputy Premier Jeff Seeney has described the project as an exciting plan which would lead to the creation of hundreds of jobs.
He has estimated 350 jobs would be created during the construction phase of the processing plant, and 450 jobs during the operational phase.
According to the Australian Financial Review newspaper, the farms would carry 16,000 Holstein cattle, including 10,500 milkers, and the processing plant could produce as much as 30,000 metric tons of infant formula a year.
- External link: Gina Rinehart Plots $500m China Baby Formula Move (AFR)
