Tassal said the annual prawn market in Australia was about 60,000 tonnes, with Australian acquaculture supplying about 10 per cent
Tassal receives green light for stage 3 of prawn farm expansion
AUSTRALIA
Monday, October 21, 2019, 00:00 (GMT + 9)
Tassal Group (ASX:TGR) has received the green light from the Whitsunday regional Council and Queensland State Government for the Company’s Stage 3 expansion plans for its prawn farm located near Proserpine.
TASSAL wholly owned subsidiary De Costi Seafoods completed, on september 2018, the acquisition of the land, assets and inventory of the Fortune Group prawn aquaculture business
Having received these approvals, Tassal says its prawn growth strategy continues to be on track.
The company can now commence construction of Stage 3 at Proserpine, adding 80 hectares of ponds and the new hatchery infrastructure, in readiness for stocking the expanded farm in FY21.
Proserpine prawn farm expansion
Tassal Managing Director & CEO Mark Ryan says with all major Stage 3 approvals received, the company can now commence investing AUD 30 million to build 80 hectares of additional pond and new hatchery infrastructure for production next financial year.
The expansion will create 50 new jobs and support the company's target of generating AUD 25 million in EBITDA from prawns in FY21.
Source: Finance News Network
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