Alterra Ltd (ASX:1AG) is pleased to provide an update in relation to the Company’s flagship avocado project, Carpenters.
The tree health of the first 5-hectares planted in October 2020 is encouraging with positive flush of growth emerging as the trees establish.
Alterra has been working closely with its local partners French’s Group and Yambellup Estate on its tree management protocols as well as global irrigation leader Netafim on its drip irrigation and fertigation systems.
This combined expertise encompasses all of the key agronomic practices required for the project, including nursery production, land development, water management, tree establishment, irrigation, fertigation, and canopy management.
An electromagnetic survey for Stage 2 covering 52-hectares has been completed with field preparations, drainage and detailed irrigation designs now underway. A site office and associated infrastructure is in place to support Stages 1 and 2 of the Project.
The Company is progressing discussions with several potential equity providers to fund this next stage.
Construction of the 4,100 megalitre dam to provide long-term security of water supply to the Project has significantly progressed. The existing 37 megalitre holding dam and 500 megalitre per annum of water secured from adjoining property ‘Casuarina’ will be used to support the Project while the main dam infrastructure is completed. The landowner continues to work closely with regulatory authorities in relation to licences and permitting throughout the development process.
Alterra’s objective throughout the development process is to generate value for shareholders whilst promoting sustainable agriculture and enhance economic livelihood of rural communities in and around the southern region of Western Australia.