Agribusiness and water investment company Tandou Ltd. has entered into a contract to purchase a total of 7,450 hectares in New South Wales. The property is comprised of 3,200 hectares developed row crop irrigation and 12,500 megaliters of water storage valued at $8.4 million. Tandou has also entered into contracts for the purchase of 34,585 megaliters of water entitlements worth approximately $24.8 million. Both the water and the land contracts will be separately settled this month. The acquisition of the property known as “South Farm” will increase Tandou’s cotton production capacity to more than 110,000 bales per year. Following the transaction Tandou’s total water entitlements are expected to reach 90,000 megaliters.
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