Australian dairy firm Van Diemen's Land Company (VDL) has received a "lot of interest" in its plans to raise capital in order to increase its investment to expand milk production in Tasmania.

The company indicated yesterday (24 September) that it has made contact with domestic and international potential investors as it looks to further its plans to raise equity.

Chief executive Michael Guerin said that the negotiations were "in confidence at this stage". However, he added: "There has been a lot of interest in the proposed VDL expansion plans and there are a number of investors interested in the project."

Guerin said that he was confident that VDU would raise the necessary funds for its expansion ambitions.