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Almond plant could drive regional growth

On Nov 25 2011
Tagged as:
  • VIC


A state-of-the-art almond processing plant worth $60 million is being built in Mildura, situated in ...

A state-of-the-art almond processing plant worth $60 million is being built in Mildura, situated in north-west Victoria.

The state's minister for manufacturing, exports and trade Richard Dalla-Riva announced today (November 25) that the project would generate 90 new jobs and stimulate economic activity in other sectors including construction and storage, as well as transport, packaging and recycling.

The plant is projected to be one of the largest of its kind in the world and capable of processing 40,000 tonnes of almond kernels every year.

In total, it will cause an increase of $150 million worth of exports by 2015 - and more than $100 million within the next two years, Dalla-Riva said.

''The government’s support for this project is part of our strategy to drive resilient and diverse regional economies,'' Mr Dalla-Riva explained.

Agribusiness operator Olam Australia initiated the investment, which has benefited from the Victorian government's Business Flood Recovery Fund, which is aimed to stimulate growth in flood-affected areas.

This potential economic growth may pique the interest of prospective investors in Victoria's north-west, as well as those who already own property in the region.

According to real estate strategist Chris Macke, demand for commercial real estate is driven by activity in the economy as a whole.

''As the economy goes, so goes the health of commercial real estate,'' he wrote in a column for Forbes Magazine in April this year.