Ridley Corporation Limited (ASX:RIC)
has announced it’s set to construct and operate a new feedmill at Geelong.
The animal feed producer hopes to service monogastric customers in the region around Geelong and wider Western Victoria.
Ridley forecasts an initial annual production capacity of 250,000 tonnes.
Approximately 20 full-time operational and support roles will be generated to operate the feedmill.
The feedmill project forms part of Ridley’s investment commitment in the Geelong region, with a further $1.6 million invested by Ridley and its development partner Sanctuary Living for the redevelopment of the former salt fields at Moolap.
Ridley Corporation Limited reported a net profit of $21.17 million for the 2015 financial year.