Singapore’s Barramundi Group is planning to expand its barramundi operation off the West Kimberley Coast of Western Australia.
The 10-year, A$350 million project is expected to create up to 400 jobs and business opportunities for the region.
Focus on sustainable production
Located at Cone Bay in the Buccaneer Archipelago, the barramundi farm is the largest of its kind in Australia. Barramundi Group is operating 32 sea cages at the site.
Barramundi Group has identified 13 marine sites near Cone Bay for development. The 10-year expansion would allow the company to sustainably increase production from 1,500 tonnes a year to 30,000 tonnes a year. It currently supplies 1,600 restaurants, hotels and retailers and plans to grow international markets for the premium white fish.
Barramundi Group is also proposing to develop three land-based fish nurseries and a processing facility in the region.
The company has been collaborating with environmental consultants to develop a strategy to sustainably grow production in the region over the next decade. The plan considers best management practices including fallowing, biosecurity, and a scale-up process at a rate that allows adaptive management.
‘Barramundi Group Australia is proud of its 18-year history, environmental credentials, and track record in the region,’ says Barramundi Group chief executive officer Andreas von Scholten. ‘The learnings from our current operation have given us the confidence that we can grow in harmony with local flora and fauna, enhance biosecurity and provide even more jobs and opportunities for local communities in this remote part of Australia.’
The project plan has been submitted to relevant authorities, including the Environmental Protection Authority.
How Austrade helped
Austrade assisted Barramundi Group on its investment by providing:
- Introductions to the Western Australian Government, so the company could acquire more farming lease sites and access the Northern Australia Infrastructure Fund (NAIF)
- Updates on the NAIF application process
- Introductions to Export Finance Australia for finance solutions.
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