MACADAMIA FARM GOES NUTS THANKS TO NSW GOVERNMENT LOAN
The Deputy Premier and Minister for Regional NSW John Barilaro and Member for Lismore Thomas George today announced Macadamia Processing Company has received a NSW Government loan of more than $5 million, as part of government’s low interest loan scheme to help grow regional industries.
Mr Barilaro made the announcement while visiting the company’s facilities in Alphadale with Consuls General and trade representatives from different countries as part of a two-day trade mission showcasing the Northern Rivers as an investment location.
Mr Barilaro said the loan, provided through the NSW Government Cooperative Loan Scheme, would significantly assist the world-leading facility.
“What a fantastic outcome for the Macadamia Processing Company, and for the NSW Government, to be able to assist this growing business with significant funding,” Mr Barilaro said.
“We’ve got an incredibly successful, internationally renowned company looking to expand and I’m thrilled the NSW Government can help.”
The Macadamia Processing Company will use the low interest loan to construct an additional building to contain up to 450 tonnes of nuts, in addition to purchasing necessary processing equipment.
Macadamia Processing Company processes up to 13,000 metric tonnes of nuts annually, approximately 20-30 per cent of the Australian crop.
Thomas George said he was proud to see a local business continuing to grow and establish itself on a global scale.
“This loan will make a huge difference to Macadamia Processing Co,” Mr George said.
“It’s a great example of how a government can support business and local jobs.
“I congratulate this highly successful company on what they’ve achieved so far and can’t wait to see how this NSW Government loan will help them grow.”
General Manager of the Macadamia Processing Company Steven Lee said he was delighted to receive support from the NSW Government.
“This loan means we can purchase extra equipment, build another processing building to handle additional crop, and ultimately grow the business so that we can continue to provide strong returns to our growers,” Mr Lee said.
The scheme is open to cooperatives that have been in operation for at least three years and can prove they will be able to repay the loan.
The funds must be used to improve production facilities, expand a business, purchase assets such as equipment or modernise operations.
Guidelines on accessing the NSW Government Cooperative Scheme are available at www.nsw.gov.au/cooperativeloanscheme