Fortune Agribusiness Explained

Fortune Agribusiness Funds Management Pty Ltd
Trading Name:	Fortune Agribusiness (FortuneAgri)
Industry:	Agriculture
Key People:	Peter Wood, Chairman

Fortune Agribusiness is an agriculture business headquarterd in Melbourne, Australia.

Singleton Horticulture Project

It purchased Singleton Station, a 294,900 hectare pastoral lease, located 400 kilometres north of Alice Springs, near the community of Ali Curung, in 2015.^[1] In addition to the pastoral operation, Fortune Agribusiness is proposing to create a large-scale fruit farm that it estimates to provide an economic benefit worth about $100 million a year, along with 110 permanent and 1,350 seasonal jobs, although those number have been disputed.^[2]

It was granted a free 30-year licence to extract up to 40,000 megalitres of groundwater a year from aquifers under the station by the Northern Territory Government in 2019, the largest ever grant of its kind. This approval involved changed to NT water legislation.^[3] The project has facing community opposition including from Traditional Owners, resulting in legal action.^{[4] [5]}

References

1. Web site: Government . Northern Territory . 2023-02-28 . Singleton Horticulture Project . 2023-12-16 . depws.nt.gov.au . en.
2. Web site: 5 September 2022 . Traditional owners' court challenge against NT Government over Singleton Station water licence to be heard this week . 16 December 2023 . NT Independent.
3. News: 2021-11-10 . 'This stinks': Emails reveal covert plan to allow the NT's largest ever groundwater extraction licence . en-AU . ABC News . 2023-12-16.
4. News: Allam . Lorena . 2022-07-12 . NT decision to grant biggest ever water licence labelled 'extraordinary' giveaway . en-GB . The Guardian . 2023-12-16 . 0261-3077.
5. News: Wahlquist . Calla . 2022-02-16 . Traditional owners launch legal challenge against NT's largest groundwater extraction licence . en-GB . The Guardian . 2023-12-16 . 0261-3077.

External links

• Official website