Government grant for Barramundi facility

Barramundi producer MainStream Aquaculture and paper manufacturer Opal are the recipients of an AU$30 million grant for the Latrobe Valley Aquaculture project, which proposes the construction of the largest indoor aquaculture facility for growing and processing Australian barramundi.

The project, which will be based in the Latrobe Valley, Victoria and cost AU$125 million, will be facilitating growth in the sector, as it supports high value, skilled jobs and the opportunity for sustainable growth in the future. MainStream Aquaculture will be responsible for designing and operating the facility, aiming to grow and process more than 3700 tonnes of barramundi for the Australian market annually.

Partnering with MainStream Aquaculture provides the project with a great advantage. By co-locating the proposed facility with Opal's Maryvale Mill, means sharing resources and infrastructure, providing the project with access to a wide range of services including heating, water treatment, energy and transport infrastructure. Government funding support marks a major step in the project with both companies moving forward into the final development step which includes facility design, and regulatory and board approvals.

A rendering of the facility. Image credit: MainStream Aquaculture

"We welcome the opportunity to participate in an innovative business initiative in such a critical industry," says Boris Musa, MainStream CEO. "Using efficient and sustainable technology for primary food production has significant merit. In addition to its world class environmental credentials, barramundi aquaculture has potential to transform socially and financially the local community by developing a new aquaculture precinct in the region."

Aquaculture Project Lead for Opal Craig Bosch says that the announcement of government funding is an "important milestone."

"The Latrobe Valley Aquaculture project showcases how leveraging complementary capabilities can
support opportunities for transformation in the Latrobe Valley,' Mr Bosch explains.

'Thank you to the Australian Government for today's announcement which is a major step forward for
our project. We continue to appreciate Darren Chester's long-standing support for this important
project and for Opal's Maryvale site, which is one of the largest employers in the Latrobe Valley," he adds.

364 jobs in the Victoria area will be created from the construction of the project and once the facility is operational, will supply 263 direct and flow on jobs.

For more information on MainStream Aquaculture visit their website, HERE.

For more information on Opal Australian Paper visit their website, HERE.

The Aquaculturists

---