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CP Group to invest heavily in Australian livestock, grains and aquaculture
Salmon farming will be a new direction for CP in the coming years
Thailand's CP Group has plans to invest millions of (Australian) dollars in Australia over the next three to five years. Aquaculture is definitely in the plan, with salmon farming considered a nice fit.
The agribusiness conglomerate has already opened an office in Melbourne and General manager of CP Group, Richard Lovell, said in a radio interview that the plan is to spend $100 million this year on Australian produce and recruiting staff.
He said that over the next three to five years the investment would double annually with a long-term projected spend of Au$ 7 million.