Lockyer Fruit and Veggie Cooperative looks for 20,000 investors for new processing facility

At least, a share in a cannery, that is.

The Lockyer Fruit and Veggie Cooperative has put out a call for 20,000 investors to commit to the Lockyer Valley Foods' Fruit and Vegetable Processing Facility to be built on a 55 hectare site at Withcott, near Toowoomba, Queensland.

A development approval for the five-stage facility has been granted, with hopes operational works will begin in July this year, pending local government approval.

The project is being driven by the Lockyer Fruit and Veggie Cooperative, a government registered community-driven co-op.

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According to the group, it is committed to driving the "revival of the fruit and vegetable processing industry in Australia to ensure up to 100 per cent of fruit and vegetable crops are utilised".

This would be done through value adding and innovation which is expected to increase regional jobs and farm profitability.

Lockyer Valley Foods chief executive director Colin Dorber said the goal over time was to rebuild Australia's fruit and vegetable processing industry, particularly focused initially on beetroot and pineapple as key products loved by Australians.

"Australian-grown and owned canned and frozen food labels are becoming harder to find with overseas investors buying out Australian facilities and import competition," Mr Dorber said.

"That's why the cooperative was established, to bring about Australian ownership of the facility and sell Australians products at or better that prices charged for the imported substitutes."

The facility will be the first of its kind built in more than 65 years in Australia and will include its own waste-driven power plant.

There are also plans for it to recycle 100pc of its water, and include a powder production plant, juicing plant, frozen line, and a canning line aimed at producing 400 million plus cans of fruit and vegetables, annually by the end of Stage three.

The group offers two types of membership.

There is a full membership for $1000 which gives voting rights and an obligation in the future to purchase products once the facility is operational.

The second offer is an associate membership for $500 which requires nomination by a full member. Associate members do not have voting rights. There is no administration fee or obligation to purchase products.

Currently the maximum is 20 membership shares per member.

Interested families, individuals, business, companies and trusts have been invited to become part of the cooperative.

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