Sheep and cattle processor V & V Walsh has announced it has entered into a joint venture with one of China's largest red meat importers, Grand Farm Group, which will see Walshes process an extra 50,000 lambs and 30,000 cattle per year.
Investment for the joint venture could top at Aus$1 bn. over five years.
This will include Aus$200 mill. of Chinese investment into WA to increase lamb and beef production and processing facilities to improve the facilities at V & V Walsh, and Aus$800 mill. into Inner Mongolia where there are plans to develop state-of-the-art feedlots, a research and development centre and processing facilities, and an expansive network of feeding systems.
Walshes chief executive officer Peter Walsh said they were in the process of gaining a licence to export WA meat to China and as soon as that came through they would be ready to go.
Mr. Walsh said the biggest concern now would be supply, with concerns over the numbers of sheep and cattle in WA.
Source: V & V Walsh