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Australia

Seafarms’ Billion-Dollar Sea Dragon Project

 

Project Sea Dragon (map) is a staged, seven-year, billion-dollar project to create 10,000 hectares of ponds capable of producing 100,000 metric tons of high-quality Australian giant tiger shrimp a year!  The project continues to move forward.  The Seafarms Group, the company behind the ambitious project, said the Northern Territory Pastoral Land Board has issued it a non-pastoral use permit (NPUP)—so that Stage-1 of Project Sea Dragon can begin.  The NPUP is the instrument that allows aquaculture as an activity at Legune Station while it is still a pastoral lease prior to conversion to other tenure.  Legune Station lies on the far north coast of the Northern Territory, just east of the West Australian border.  “This provides the tenure for the commencement of Stage-1 of the project,” Seafarms Group said in a statement.  “The issue of the NPUP is a further significant milestone for the development of Project Sea Dragon and demonstrates further progress in the project achieving its secondary approvals.”

 

Project Sea Dragon is to be developed in stages, with Stage-1 involving 1,180 hectares of production ponds, increasing to over 2,000 hectares in Stage-2.

 

At the beginning of the next dry season, April 2018, Seafarms will begin Stage-1 of the Sea Dragon Project.

 

All environmental approvals and native title deals with traditional indigenous landholders are in place for the Sea Dragon Project.

 

The Northern Territory, Western Australia and Federal governments provided more than $50 million to build a year-round, sealed road into Legune Station.

 

Japanese and Chinese investors are keeping a close watch on the project’s progress, and there is interest from investors linked to Norway’s salmon farming industry and Scandinavian sovereign funds.

 

Source: NTnews.com.au.  Territory’s $1.5 Billion Project Sea Dragon Continues to Move Forward.  Gary Shipway.  November 8, 2017.

 

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