AUSTRALIAN dairy cattle will be exported to Sri Lanka to set up a pilot project farm.
Under the plan, Wellard Rural Exports will send 2000 head of cattle and dairy infrastructure to Sri Lanka to meet its contract with the Sri Lankan Government.
The news broke today when Australia's export credit agency, Export Finance and Insurance Corporation announced it was providing an export finance guarantee to Rabobank for the US$12.95 million dairy project.
A farm will be established as a pilot project and there are plans to develop farms on a larger scale in dairy production areas around Sri Lanka, the EFIC statement reads.
The project will be implemented in two stages over two years with 500 head of cattle being exported in the first stage and 1500 head in the second stage.
Wellard managing director Stephen Meerwald said: "Australian dairy cattle have an international reputation for high quality but providing a finance package to our buyers enabled us to secure the contract".
