CQ’s $37M beef project on track to be operating mid-year
The Central Queensland beef industry is expanding with the financial close of a $24 million loan to finalise a boutique beef processing facility near Moranbah.
Signature Onfarm Beef will be a 200-head-a-day abattoir, established by Central Queensland pastoralists Josie and Blair Angus.
The $37 million operation is well and truly underway, with the facility expected to be fully operational in July.
Mr Angus said the facility would support the region's beef producers and generate economic spin-offs throughout the region.
"This project is about delivering returns to farm gate, jobs to the bush and delivering bespoke products to consumers," he said.
"Producers in our region have invested a lot in the quality of their herds and a boutique facility like this aims to maximise the potential and value of each and every one of those individual carcasses."
Minister Resources, Water and Northern Australia Keith Pitt said the $24m Northern Australia Infrastructure Facility (NAIF) loan, which had already begun to be drawn down, would enable Signature Onfarm to finish building the beef processing facilities and on-site employee accommodation.
"The expansion of these facilities will benefit the Central Queensland cattle industry, and will create much needed jobs in the region as Australia recovers from the COVID-19 pandemic," he said.
"The Signature Onfarm beef project will create around 200 construction jobs and 70 ongoing jobs once the project is completed.
"The project is being developed by the Angus family who are industry leaders, and will mean local producers have access to an abattoir closer to their farms."
It is estimated the infrastructure funded by the NAIF loan will generate $63.5m in economic benefits for the broader community over 20 years, including savings in transport costs and increased carcass yields for local producers.
The facility would also provide training and development opportunities, focusing on retaining local young people in the beef industry and facilitating the transport and sale of Central Queensland premium beef both domestically and to overseas markets.
NAIF's investment decision on Signature Onfarm is the fourth project in Queensland to receive full Board approval with a total of $781m in loans approved for Queensland projects.
Assistant Minister Northern Australia Michelle Landry said the project was a great example of how NAIF continued to support jobs and economic growth in Northern Australia.
"I congratulate the Angus family for their project, which will create jobs and opportunities in central Queensland, while continuing to support a strong vibrant cattle industry," she said.