NAIF’s loan to Signature Onfarm Pty Ltd will help construct a specialist beef processing and on-site employee accommodation near Clermont.
About the Project
The project is being developed by the Angus family, a leader in the cattle industry in Australia and will be used by local cattle producers and other branded beef companies to process cattle at an abattoir located closer to their farm. That will result in a reduction in cattle tissue shrinkage during transportation and increased carcass yields for local producers.
- Construction of an on‑farm, greenfield specialist service, beef processing facility with on-site accommodation for up to 70 employees.
- Other ancillary amenities including office, amenities, lairage, waste water treatment, dry store building, irrigation system and supporting water, energy, telecommunications, road and IT infrastructure.
The state-of-the-art facility will be able to process 50,000 head of cattle each year, giving Bowen Basin graziers new opportunities for beef sales, slaughter and marketing into domestic and international markets.
Unlike commercial financiers, NAIF’s high risk tolerance in relation to factors unique to investing in infrastructure in northern Australia, supported the construction of this greenfield project located in a remote region and allowed it to proceed.
The NAIF loan will facilitate the establishment in the Isaac Shire region of much needed export-accredited beef slaughter and boning facilities, commercial scale dry aging capability and specialised packaging. Those are crucial elements for development of a premium beef product and will give local beef producers more avenues to market their beef domestically and internationally.
The project provides strong opportunities for Indigenous employment and Indigenous business participation in the beef supply chain, particularly for Indigenous pastoral enterprises that could benefit from capacity building strategies and commitments to preferentially process Indigenous produced beef.
Signature Onfarm will deliver participation, procurement and employment outcomes through Indigenous enterprise development opportunities including an emerging partnership between Signature Onfarm and Black Fella Beef. A draft Memorandum of Understanding has been developed which will help build Indigenous pastoral capacity and produce an Indigenous branded beef product.
More broadly the project has committed to a 2% Indigenous employment target, being 4 FTEs during construction and 2 FTYEs during operations.
* The financial assistance is subject to conditions including the finalisation of the Queensland Government’s consideration and agreement for the approved funds to be advanced.
The NAIF media release on the Investment Decision to Signature Onfarm can be found here
The Ministerial media release on the Investment Decision can be found here.
Economic Impact and Public Benefit
- It is estimated that 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 project will assist the local industry through:
- reduction in freight costs, cutting the number of trucks on the road;
- providing training and development opportunities, focussing on retaining local young people in the beef industry;
- allowing the continued growth and reputation of the area as a premium beef region; and
- facilitating the transport and sale of central Queensland premium beef both domestically and to overseas markets, including China, the EU and Asia.
- The project is expected to create 200 construction jobs and up to 70 ongoing jobs.