THE Inverell Regional Livestock Exchange (IRLX) will undergo a multi-million dollar redevelopment of the current site starting early next year.
The saleyard owners, Regional Livestock Exchanges (RLX) which is part of AAM Investment Group, announced today the redevelopment will deliver a modern livestock marketing facility that’s expected to deliver an estimated $56 million increase in total turnover, ranking Inverell in the top six facilities in NSW.
AAM Investment Group managing director, Garry Edwards, said the company was strategically investing in IRLX as it recognised its crucial role in the agricultural industry and the economic benefit it delivers to the Inverell community.
Cattle and sheep producers who sell stock via the saleyards can look forward to increased selling area to accommodate growth, modular selling pens to allow greater flexibility in selling processes, undercover pens with soft flooring and onsite freshwater capture to reduce demand on local potable water supplies.
Mr Edwards said redevelopment to this vital link in the livestock supply chain would future proof the region’s agricultural economic activity through increased throughput.
This investment will provide substantial improvements for both livestock and people through innovative infrastructure design, improved welfare outcomes, increased operational efficiency and safety.
“The redevelopment to the current facility will not only add value to the local industry but also the communities and industries it services throughout northern NSW,” he said.
“We are excited to inject economic activity into the local community while also supporting an industry that remains one of Australia’s greatest export earners.”
He said this investment represents the latest stage of a $110 million investment by Palisade Investment Partners in agricultural supply chain infrastructure in rural and regional Australia.