Ridley Corporation Limited announced its intention to build a new fit for purpose aqua feedmill in Tasmania. Located at Westbury, in northern Tasmania just west of Launceston and south of Burnie, the feedmill will manufacture and supply feed to primarily Tasmania's Salmon industry, as well as other aquaculture species on the mainland and in New Zealand. Based on committed volume from existing contracted customers, the proposed new feedmill will meet internal financial hurdle return rates, with upside in the form of spare capacity, which will be available to target new and returning customers and general industry growth. Currently, Ridley manufactures and supplies a significant volume of aqua feed to the Tasmanian market from its Narangba facility near Brisbane, Queensland. The new facility will bring Ridley closer to its Tasmanian customers, who will benefit from reduced supply chain costs, shorter delivery lead times and from being able to collaborate more closely on new product development and dietary enhancements. The transfer of salmon production from Narangba to Tasmania upon commissioning of the new feedmill will be accommodated within a restructure of the Narangba operations, which will include the return of production of certain third party manufactured products, which are currently outsourced due to capacity constraints. The Narangba restructure has been financially modeled in the internal project approval process.