Sector
Water storage and irrigated agriculture
Opportunity
Construct a new water storage facility at O’Connell Creek
Location
Richmond, North West Queensland, Australia
Investment type
Greenfield
Investment opportunity highlights
Establishment of a new water storage facility to expand irrigated cropping
Investment required
AUD$130 – AUD$200 million
Timeframe
Dependent on investor
Financial information
Further information available on request
Why invest?
- Global demand puts northern Australia in an excellent position to capitalise on rising demand for food crops in Asia and the Middle East
- Pre-feasibility studies have been undertaken with the support of local government and key regional stakeholders
- Storage capacity 190,000 megalitres
- Potential cropping land 15-20,000 hectares of arable cropping land
- Irrigation water used as “all in all out” per year
- Irrigation can be a mix of flood, centre pivots, and trickle systems
- Cropping area adjacent to the storage area
- Substantial areas suitable for dryland cropping
- The gravity design allows low energy and maintenance expenditure
- Further property mapping will be required
- Close proximity to road and rail corridor to Townsville Port
- Local producers are keen to work with investors to devise commercial structures that would support the development of a water storage facility in order to share risk and manage seasonal issues
Company
Mount Isa to Townsville Economic Zone (MITEZ) and Richmond Shire Council (RSC)
Further information
Glen Graham at MITEZ: E [email protected] W www.mitez.com.au P +61 7 4743 3488
Richmond Shire Council: W www.richmond.qld.gov.au