Foley eyes $7.4 mln investment to develop Mt Difficulty

Wed, 21 Nov 2018

By Gavin Evans Nov. 21 (BusinessDesk) - Foley Family Wines says it expects to invest about $7.4 million for development during the next three years as part of its planned purchase of Mt Difficulty Wines. The $52 million purchase, conditionally agreed a year ago, is awaiting ministerial approval after a positive recommendation by the Overseas Investment Office, the company told shareholders today. Noting the government’s focus on job creation, adoption of new technology and increased export receipts from such land sales, Foley said the...

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