Cubbie sells $73.5 million of water to government

The Federal government has purchased $73.5 million of Cubbie Station’s irrigation water entitlements.

Slim details of the sale appeared on the government’s AusTender website as part of the government’s attempt to finalise ‘bridging the gap’ purchases in the northern Murray-Darling basin.

The water sale is in the name of SI Investment Holdings Limited, which has close ties to the Cubbie Station owner – the Macquarie Group.

It is understood that the Macquarie Group believes the sale will have no impact on Cubbie Station’s productivity, with all staff being retained and the proceeds being invested back into the property at Dirrinbandi. […]

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The vast Cubbie Station at Dirrinbandi. Photo TWH