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Seafarms Group secures planning approval for its prawn hatchery

The company is Australia’s largest producer of farmed prawns under the Crystal Bay brand.
black tiger prawns
The hatchery will supply selectively bred domesticated juvenile prawns

Seafarms Group Ltd (ASX:SFG) has received subdivision and planning approval for its proposed prawn hatchery at Gunn Point to the east of Darwin in the Northern Territory.

The planning approval represents a further milestone in the development of Project Sea Dragon, Seafams’ prawn aquaculture project.

Project Sea Dragon is envisaged to be a large-scale, integrated, land‐based shrimp/prawn project.

READ: Seafarms Group raising funds to advance Black Tiger prawn farm

The Gunn Point hatchery will supply selectively bred, specific pathogen-free, domesticated juvenile prawns for Project Sea Dragon’s grow out facility at Legune Station.

The site of circa 130 hectares will be leased from the current owner, the Northern Territory Land Corporation prior to conversion to freehold upon construction of the facilities at the site.

Planning approval incorporates environmental safeguards

It is worth noting that a sperate Environmental Impact Statement is not required and the conditions made as part of the planning approval have been included to safeguard the environment.

Seafarms’ hatchery will also benefit from the upgrade and realignment of Gunn Point Road for which the Northern Territory government revealed a $40 million tender last week. 

Annual estimated revenues in excess of US$2.3 billion

Seafarms is already Australia’s largest producer of farmed prawns under the Crystal Bay brand (producing Banana and Black Tiger Prawns).

The company is now on track to secure all the major licences and agreements needed to build and operate Project Sea Dragon.

At full‐scale, the project has the potential to create around 1500 jobs in northern Australia, with annual estimated revenues in excess of US$2.3 billion.

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Seafarms Group Ltd Timeline

August 19 2016

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