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Rural Funds Group Advises on Central Qld Water Allocation Acquisition

17 Dec 2020  |  09:50:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Central Queensland water allocation acquisition

Rural Funds Group advised that contracts have been exchanged with Sunwater for the purchase of a 21,600 ML Medium Priority Lower Fitzroy River water allocation for $32.4m. The water will be sourced from the Rookwood Weir, which is being constructed 66 km southwest of Rockhampton. The allocations, and 5,963 ML of additional Fitzroy River allocations previously acquired, will be applied to the development of up to 2,500 ha of macadamia orchards, and development of irrigation for cropping and cattle production.

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