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MELBOURNE, Australia — Thai food company CP Group is planning to invest hundreds of millions of dollars in Australian food and processing in the next five years, ABC reported.
The company has opened an office in Melbourne to start buying red meat and grains and set up a salmon farm in Australia.
General manager of CP Group, Richard Lovell, says the plan is to spend $100 million this year on Australian produce and recruiting staff.
"And over the next three to five years to looking at doubling every year for sure and within the next three to five years looking into upstream into factories — whether that''s a farm, processing, whether that''s ready made meal manufacturing," he said.