Australia is planning to sell agricultural technology certification systems and agri-food processing equipment to the US$1.2 billion dollar deal that was struck by Australia’s Department of Agriculture to purchase a large, industrial-scale agri tech company.
Agriculture Minister Scott Morrison has confirmed the agreement with the US, which was struck in November, to sell certification systems for agri production and processing for up to US $2.75 billion ($2.9 billion), or around $1.4 billion more than the Australian government previously announced it would offer.
“Agricultural technology is the backbone of our agriculture,” Morrison told reporters on Wednesday.
“We are committed to supporting the commercialisation of this important technology for the benefit of Australia’s agri sector.”
Morrison added that the Australian Government would also sell Agri-tech Solutions, an agri technology and agribitech certification system provider.
“These are the things that we’re trying to sell the technology for, which is a significant portion of the business,” he said.
“It’s an industry that employs around 800,000 people in Australia and we’re confident that the Agri Tech Solutions products will help support the agri industry in Australia.”
The Australian Government is also set to sell a certification system to the United States for $2 million ($1.3 million) which will be used to certify agricultural products.
Morrison said the Australian and US agreements were “quite substantial” but did not specify what other areas the US would sell Agra Tech Solutions.
The agreement was announced in November as part of an Australian Government $1 billion package to purchase an industrial-sized AgriTech Solutions, and was a joint venture between the United Kingdom, Ireland, Japan, Canada, Germany, Italy and the United Arab Emirates.
Australia has said that the deal would be used for the “full range of Agritech certification processes”.