Rural Funds Management Limited (RFM) as responsible entity for the Rural Funds Group (ASX: RFF) advises that contracts have been exchanged with Sunwater Limited 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 kilometres 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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