Forrest to invest €65 million in new land-based production facility in Australia

News
0

Tattarang announces multi-million dollar land-based farming investment. 

In a press release issued on Wednesday, Australian billionaire, Andrew Forrest, has confirmed his intention to develop a new land-based finfish production facility.

This follows on from the news that Forrest who owns an 18.5 per cent stake in Tasmanian salmon producer Huon, intends to vote against the takeover offer from Brazilian meat producer JBS.

Read more: Andrew Forrest in last-ditch effort to influence JBS takeover of Huon

Project scoping and feasibility studies have already commenced, paving the way for future site selection and capital works to occur, which would underwrite an investment commitment anticipated to be more than AU$100 million (€65 million).

Forrest said the new land-based production facility would give consumers true market choice to support products that are ‘sustainably produced without impacting our environments’.