❓ Hon. Darren West inquires about the annual lease payments Kimberley Agricultural Investment (KAI) will make for Goomig and Knox land under the Ord Development Agreement. The response details nominal initial lease rates due to high development costs, with Goomig increasing to $4/hectare after four years.
AnsweredQoN 115Legislative Council
QuestionView source ↗
KIMBERLEY AGRICULTURAL INVESTMENT PTY LTD —
LAND LEASING
115. Hon DARREN WEST to the
parliamentary secretary representing the Minister for Regional Development:
I refer to the government's announcement on 6
December 2013 that it had signed the Ord Development Agreement with Kimberley
Agricultural Investment Pty Ltd.
How much will
KAI pay the state government each year to lease —
(a) 7 400
hectares of Goomig land; and
(b) 6 000
hectares of Knox land?
LAND LEASING
115. Hon DARREN WEST to the
parliamentary secretary representing the Minister for Regional Development:
I refer to the government's announcement on 6
December 2013 that it had signed the Ord Development Agreement with Kimberley
Agricultural Investment Pty Ltd.
How much will
KAI pay the state government each year to lease —
(a) 7 400
hectares of Goomig land; and
(b) 6 000
hectares of Knox land?
AnswerView source ↗
I thank the honourable member for some notice of this
question.
Notice of this question was given on 10 December 2013, so I
am not sure whether this information is still relevant.
(a) Farm
development costs for the Goomig land is in the order of $7 000 per hectare or
approximately $50 per metre. In recognition of this cost and environmental
compliance overheads, the rental has been agreed at $1—nominal—for
the four-year development lease, recognising that land development occurs
across this time. This will increase to $4 per hectare once the 50-year lease
is in place.
(b) Farm
development costs for the Knox lands are higher for Kimberley Agricultural
Investment Pty Ltd as it is responsible for progressing approvals and
infrastructure planning and construction. Additionally, KAI will need to fund
the Aboriginal development package for the Knox Plain. Costs are in the order
$120 million, and in recognition of this, lease rental has been agreed at $1—nominal—per
year.
question.
Notice of this question was given on 10 December 2013, so I
am not sure whether this information is still relevant.
(a) Farm
development costs for the Goomig land is in the order of $7 000 per hectare or
approximately $50 per metre. In recognition of this cost and environmental
compliance overheads, the rental has been agreed at $1—nominal—for
the four-year development lease, recognising that land development occurs
across this time. This will increase to $4 per hectare once the 50-year lease
is in place.
(b) Farm
development costs for the Knox lands are higher for Kimberley Agricultural
Investment Pty Ltd as it is responsible for progressing approvals and
infrastructure planning and construction. Additionally, KAI will need to fund
the Aboriginal development package for the Knox Plain. Costs are in the order
$120 million, and in recognition of this, lease rental has been agreed at $1—nominal—per
year.
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