Victorian Coalition Government makes $22 million co-investment in SPC

[icyfroth]

Thursday, 13 February 2014

SPC Ardmona’s long-term future in Shepparton has been secured with a $100 million Victorian Coalition Government and Coca-Cola Amatil (CCA) co-investment.

Premier Denis Napthine, together with Deputy Premier and Minister for Regional and Rural Development Peter Ryan, today announced the Victorian Coalition Government had committed $22 million towards a $100 million co-investment in the Shepparton company.

“Up to 2,700 jobs in the Goulburn Valley depend on SPC Ardmona and this co-investment secures these jobs which are vital to this region’s economy,” Dr Napthine said.

“This strategic co-investment has been made after careful financial assessments to secure the long-term future of SPC Ardmona and grow its export opportunities, particularly in Asian markets.

“With this support, SPC Ardmona will transform its operations, modernise food processing and increase its global and domestic product range.

“Importantly this $22 million commitment from the Victorian Coalition Government has been sourced from existing programs through Regional Development Victoria and the Department of State Development Business and Innovation.

“This co-investment aligns with the government’s work to create export opportunities for business in growing markets and to support regional communities.

“The Victorian Government congratulates CCA on its investment and for working constructively to achieve a positive outcome for the company and the broader community.”

Deputy Premier Peter Ryan said today’s announcement was another example of the Victorian Coalition Government supporting business to grow and thrive in the domestic and international market.

“We recognise the significance of the state’s food and fibre industry, with total agriculture and food exports from Victoria accounting for 29 per cent of Australian food exports,” Mr Ryan said.

“Food and fibre is particularly important to the Shepparton region, which has more than 3,000 agricultural businesses.”

Link To Article

I wonder what co-investment means. Does it mean that the government will have certain share of the profits? What will the investment consist of? Factory and system upgrades? What if it's still not viable? Does that mean the government will have lost it's $22mil?

[debra9275]

thanks Freaki, Scottsdale is the plant I'm thinking of. We drove there from Launceston once, that's why I thought it was around there

[freakiness]

---

@debra9275 wrote:

thanks Freaki, Scottsdale is the plant I'm thinking of. We drove there from Launceston once, that's why I thought it was around there

---

Yes, it is near Launceston. They were one of the three NBN trial towns  😄

[debra9275]

lol

it's in the mountains isn't it???

[debra9275]

or maybe it was over a mountain range, What i remember most about that trip was that I have never experinced so much wind and rain, but it was September, so we should've expected it

[freakiness]

---

@debra9275 wrote:

or maybe it was over a mountain range, What i remember most about that trip was that I have never experinced so much wind and rain, but it was September, so we should've expected it

---

Over a bit of a range from Launceston, yes.  In the north east.

[lakeland27]

premier Napthine has a state election coming up.  SPC really need someone in Nashes office.