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Highlights
- The Morrison Government has announced an AU$113 million funding package for South Australia.
- SA will likely become a plant protein powerhouse on heavy Government and private investments.
- A consortium is formed to construct three plant protein manufacturing facilities in SA.
South Australia will likely become a plant protein powerhouse with an AU$113 million funding package from Morrison Government.
The Australian Federal Government has committed AU$113 million for a project under Modern Manufacturing Initiative led by Australian Plant Proteins (APP) for local pulse protein production.
Further, a consortium is formed to construct three plant protein manufacturing facilities in SA, which will create thousands of full-time jobs by 2034.
APP project
APP is currently leading a project under the collaboration stream of an AU$1.3 billion modern manufacturing initiative.
The main objective of this initiative is to transform the local production of pulse protein ingredients while meeting the growing global demand.
As APP owns the only Australian commercial-scale pulse protein extraction facility, this project will boost protein production in SA to 25,000 tonnes yearly.
Thomas Foods joins forces
Thomas Foods International has partnered with Australian Plant Proteins and Australian Milling Group (AMG) to construct three protein manufacturing facilities.
Image source – © Ronstik | Megapixl.com
Adelaide-based meat processing giant, Thomas Foods and the APP, and AMG will invest over AU$378 million to construct three protein manufacturing plants.
SA government fund
Meanwhile, the South Australian Government has also contributed AU$65 million to the AU$378 million projects. This AU$378 million project further aims to boost the domestic and international protein supply.
Project benefits
As South Australia produces over a quarter of all Australian pulses, this project will likely add value by up to eight times the product's value.
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However, that value will be utilised for Australians' benefit as locally based plant protein ingredients and food manufacturing will create a new high value-added domestic supply option for pulse growers. This will, in turn, provide downstream benefits to the local Aussie communities.
Apart from this, the AU$113 million funding by the Morrison Government will likely create thousands of new jobs for the state. It will further strengthen Australia's global plant-based food value chain.
South Australia's Minister for Finance and Senator - Simon Birmingham said this investment had been a win for SA's pulse farmers. It will create job opportunities and transform the state's manufacturing capabilities to a whole new level.
Image source – © Emersont | Megapixl.com
Moreover, this investment by both Government and private sector, will put SA ahead of the pack in the high-growth domestic and booming global plant-based foods market, Birmingham said.
Moreover, SA leads Australia in renewable energy generation. Hence, this investment will put the state at the forefront of capitalising on this environmental trend.
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Premier Steven Marshall said – this project will likely create up to 1345 construction jobs and 384 new direct manufacturing jobs by 2024. He said it will eventually support over 8,500 new full-time positions in the supply chain and economy by 2034.
Bottom Line
This is a significant step in transforming SA into a plant-based protein manufacturing and export powerhouse. It has the potential to generate billions in export dollars for the state, as demand for plant-based foods is booming globally.
