Sydney – Australia has vowed to block foreign buyers from acquiring the country’s largest cattle enterprise, citing security concerns, local media reported on Thursday.
Treasurer Scott Morrison stated this in a report released to newsmen.
Morrison said that the Federal Government would block the sale of S Kidman & Co, whose holdings included 185,000 cattle and land covering over 100,000 sq kilometers, if the buyers turned out to be foreigners.
However, two Chinese companies were among the top bidders. [pro_ad_display_adzone id=”70560″]
“The parcel of land that we are talking about is some 1.3 per cent of Australia’s landmass, some 2.6 per cent of the agricultural land in this country.
“We welcome foreign investment, but as treasurer, I will always make sure that the investment is done in Australia’s national interest,’’ Morrison added.
Bids for the enterprise were said to have exceeded 350 million Australian dollars (250 million dollars).
Part of the property, Anna Creek Station, lies inside the Woomera defence weapons testing area in central Australia, the report said.
Meanwhile, overseas buyers have bought other large Australian properties.
Chinese billionaire Xingfa Ma paid 47 million Australian dollars for two cattle stations in the Northern Territory in July. (dpa/NAN)