The proposed Hughenden meat processing plant moves one step closer to fruition, as the Australian Government approves the development deed.
After signing the development deed between Chinese investment group CNVMIG (Australia), Flinders Shire Council and NorthBEEF Inc back in April, the proposed plant has since had the tick of approval from the Australian Government.
The deed is now with the Chinese Government to seek approval. If the deed is approved, funds can then be brought out of China to start the foundations of the plant.
Flinders Shire Council Mayor, Jane McNamara, said it could take up to 12 months before the money is released from China.
“It takes up to six months for approvals and up to another six months for financial investment transfer.
“At this stage we are patiently waiting. But we would like to hope foundations could be laid as early as halfway through next year.”