{"id":17718,"date":"2019-12-04T15:15:56","date_gmt":"2019-12-04T20:15:56","guid":{"rendered":"https:\/\/www.benefitscanada.com\/news\/psp-buying-into-australia-almond-orchards-water-rights-139854"},"modified":"2019-12-04T15:15:56","modified_gmt":"2019-12-04T20:15:56","slug":"psp-buying-into-australia-almond-orchards-water-rights","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2019\/12\/04\/psp-buying-into-australia-almond-orchards-water-rights\/","title":{"rendered":"PSP buying into Australia almond orchards, water rights"},"content":{"rendered":"<div class=\"alignleft clearfix\">\n<div class=\"wp-caption feature-image alignleft\"><img decoding=\"async\" loading=\"lazy\" width=\"350\" height=\"263\" src=\"https:\/\/www.benefitscanada.com\/wp-content\/uploads\/2019\/10\/123rtf_almond-orchard-australia_konya-350x263.jpg\" class=\"attachment-feature size-feature wp-post-image\" alt title=\"PSP buying into Australia almond orchards, water rights\"> <\/div>\n<\/div>\n<p class=\"byline\"><span>Staff<\/span>&nbsp;|&nbsp;December 4, 2019<\/p>\n<p>The Public Sector Pension Investment Board is buying 89,085 megalitres of permanent water rights from Olam Orchards Australia Pty Ltd. for a total of A$490 million.<\/p>\n<p>\u201cOur agreement with Olam Orchards Australia is consistent with our strategy to partner with best-in-class operators who take the long-term view and to invest in high-quality agricultural assets globally,\u201d said Marc Drouin, managing director and head of natural resources at PSP, in a press release. \u201cIt is also quite complementary to our existing permanent crop investments around the world and represents a unique avenue to add scale, particularly in Australia.\u201d<\/p>\n<p><strong>Read:&nbsp;<a href=\"https:\/\/www.benefitscanada.com\/news\/psp-acquiring-australian-agriculture-firm-for-a854-million-136576\">PSP acquiring Australian agriculture firm for A$854 million<\/a><\/strong><\/p>\n<p>In a separate transaction in Australia, PSP is buying about 12,000 hectares of almond orchards and related assets, which were previously leased to Olam Orchards.<\/p>\n<p>Olam Orchards will continue to operate the almond orchards and associated water rights.<\/p>\n<p>PSP and Olam Orchards are also entering into a tiered, revenue-sharing arrangement for the orchards, related assets and water rights for an initial period of 25 years, with an option to renew for an additional 25 years.<\/p>\n<p>The transaction is expected to be complete in December 2019, subject to conditions.<\/p>\n<p><strong>Read:&nbsp;<a href=\"https:\/\/www.benefitscanada.com\/news\/a-look-at-the-role-of-farmland-in-pension-portfolios-130873\">A look at the role of farmland in pension portfolios<\/a><\/strong><\/p>\n<p> <a href=\"https:\/\/www.benefitscanada.com\/news\/psp-buying-into-australia-almond-orchards-water-rights-139854\">Read the full article at BenefitsCanada.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Staff&nbsp;|&nbsp;December 4, 2019 The Public Sector Pension Investment Board is buying 89,085 megalitres of permanent water rights from Olam Orchards Australia Pty Ltd. for a total of A$490 million. \u201cOur agreement with Olam Orchards&#46;&#46;&#46;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/17718"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=17718"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/17718\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=17718"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=17718"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=17718"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}