In these days of  corporate "spin", it should come as no surprise that investment companies have little or no interest in the future of the the Murray-Darling, irrespective of their stated position on environmental issues.

Fair Water Use has been informed that agribusiness investment group, Great Southern Investment Managers (Australia) Ltd is still seeking investors for its "2008 Almond Income Project"  which will consist of 500 hectares of irrigated almond trees sited on the banks of the Lachlan River.

The associated Project Disclosure Statement states that both river and ground water will be used and that  the irrigation system will be able to deliver 16mm per day (compared to the industry standard of around 10 mm per day), in order that higher yields (read "profit") will be achieved.

A recent report from the CSIRO predicts that groundwater extraction in the Lachlan Valley is likely to triple over the next 20 years, effectively reducing surface water availability by about 11% and leading to a further 8% drop in water available for irrigation.

The ABC quotes CSIRO scientist Dr Tom Hatton as saying "Our estimates are that growth in groundwater use in those areas will translate to a reduction in streamflow, in surface water resources of some 30 gigalitres per year, so you are robbing Peter to pay Paul," he said.

"By taking more groundwater you're actually reducing the amount of surface water in the system."

This project is totally inappropriate and entirely at odds with the environmental mission statement on the Great Southern website:

"Great Southern is committed to conducting all of its business activities in an environmentally responsible way and strictly complies with all applicable environmental laws and regulations, as well as its own comprehensive environmental management system (EMS).

At Great Southern, we feel very privileged to live and work in some of the most unique and beautiful landscapes Australia has to offer, and we are committed to protecting these natural resources for the enjoyment of all for generations to come."

Fair Water Use views this project as an environmentally-exploiting money grab and condemns  Great Southern for its apparent duplicity.