Business News
Australia's biggest cotton producer up for sale
Aug 16, 2009, 11:45 GMT
Sydney - Australia's Cubbie Station, one of the world's largest cotton producers, is expected to sell for more than 450 million Australian dollars (373 million US dollars).
Cubbie, in south-west Queensland and covering 93,329 hectares, has water storages of 538,800 megalitres, was offered for sale Sunday by real estate agency Jones Lang LaSalle.
'Cubbie is a piece of Australian rural history, as a major world producer of high quality cotton and as one of the largest single irrigation developments in Australia,' the agency said.
There is likely to be pressure on the federal government to buy Cubbie Station in order to restore water flows into the Murray- Darling river system.
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