Major expansion planned for Proserpine prawn farms
The company also plans to invest $85 million in expanding operations at Proserpine and on implementing Smart Farm initiatives at Mission Beach, Yamba and Proserpine farms.
It has launched a share placement to raise about $108 million to fast track the growth in its prawn farming business.
Proceeds will fund pond expansion at Proserpine, targeting delivery of an extra 150ha of ponds by 2020/21 – taking the local production area to 340ha.
A processing facility is also planned to be constructed at Proserpine as well as a new hatchery and domestication program.
Tassal notes potential to develop a further 60ha of ponds at Proserpine beyond 2021/22.
The cattle property Exmoor Station, 72km south of Proserpine, contains 2093ha earmarked by the Queensland Government as an Aquaculture Development Area.
Tassal said construction there was expected to commence in 2022/23 for a staged development.
The new development at Exmoor is expected to deliver up to 1000 construction and operational jobs for Mackay and the Whitsundays.
The Tassal development would supercharge the local economy, Member for Mackay Julieanne Gilbert said.
“This will be a jobs bonanza for the region,” she said.
“It’ll be fantastic to see these new jobs being advertised and major investment flowing into our beautiful region.
“This is a further source of income for our economy and builds on our reputation as both a tourism and agricultural powerhouse.”
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