CORPORATE farmer Tandou has bought 3091 megalitres of high reliability irrigation water for $5.56 million.
The company exchanged contracts on December 30 for the Victorian entitlements.
Tandou's chief executive Guy Kingwill said the move was part of the company's strategy to accumulate a "valuable portfolio of water assets that will provide a sustainable and profitable business in a developing investment class".
"Given the current value opportunities in the Victorian water market, this acquisition of high reliability entitlements further expands Tandou's existing water holdings within the Murray-connected system, with significant entitlements already held on the Lower Darling, Murrumbidgee and NSW Murray rivers."
Mr Kingwill said the company was also assessing other water buying opportunities and leaseback arrangements with vendors.
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