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Earthworks get underway at Happy Valley Nutrition’s (ASX:HVM) new processing facility

Consumer
ASX:HVM
25 March 2021 14:10 (AEST)

Happy Valley Nutrition (HVM) is advancing earthworks at its nutritional-grade processing facility site in Otorohanga, New Zealand.

The facility is being designed to manufacture the company’s speciality dairy ingredient powders for export, before eventually moving into formulaic products and infant milk formula.

The earthworks on the six-hectare plot of land are the first stage of the build program, with the construction phase planned to begin in the second half of 2021. $7 million has been budgeted for this first stage.

HVM began earthworks during the summer and autumn months over the last 12 months to take advantage of dry weather conditions to implement access roads, drainage works, public road realignments and ground improvements for the spray dryer building.

“Our earthworks contractors are making solid progress, weather conditions have been favourable and critical works are advancing safely,” said Happy Valley Nutrition Chief Executive Officer Greg Wood.

“It is very satisfying to witness this project finally emerging from what was until recently a paddock, and these earthworks are confirmation that Happy Valley is well into the physical development of what will be one of the most advanced nutritional grade processing facilities in the world.”

The facility is expected to be commissioned in mid 2023.

Happy Valley Nutrition is up 7.14 per cent, trading at 15 cents at 1:45 pm AEDT.

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