Investment Opportunity - Aquaculture
Project Sea Dragon
Major Project Status has been awarded by both the Northern Territory and Australian
Governments to Project Sea Dragon, which is a large-scale, greenfield land-based
aquaculture project in northern Australia designed to meet the growing global demand for
seafood. The project aims to produce 100,000 tonnes of Black Tiger Prawns per annum and
when fully developed will be one of the world’s largest prawn aquaculture farms and employ
more than 1,600 people.
The project is proposed to be developed at a scale that enables it to leverage Australia’s
comparative advantages in land availability, biosecurity, marine science, access to key raw
materials and expertise in large scale resource and agricultural development. Seafarms
Group Ltd (Seafarms) has assembled experts in the fields of marine science, aquaculture
management, engineering, property law and finance to conduct a feasibility analysis of
Project Sea Dragon.
The pre-feasibility work has focused on the initial development of a production module of
10,000 ha of grow-out ponds developed over three phases, with the capacity to produce
around 100,000 tonnes per annum of prawns.
The production system is to be fully integrated and supported by other infrastructure
including a feed mill, hatchery and broodstock facility, power station, processing plant and
storage and export facilities. Phase 1 will involve 1,000ha of grow-out ponds, a processing
facility and headworks for planned expansions. Breeding facilities including a core breeding
centre, brood stock maturation and a commercial hatchery will be located near Darwin.
Seafarms has commenced the bankable feasibility stage and is interested in meeting
development partners and investors with mandates for either the entire integrated project or
sub-components such as the processing facility, related infrastructure including power
stations and transport networks, and land tenure.
The company is also seeking investors interested in securing product offtake and providing
assistance with export market development, particularly across Asia-Pacific.
Project proponent:
Seafarms Group Ltd is listed on the ASX (ASX: SFG). Its purpose is to operate, build and invest
in sustainable aquaculture production platforms producing high-quality seafood.
Seafarms is currently the largest producer of farmed prawns in Australia – growing, processing
and distributing the premium branded Crystal Bay™ Prawns from facilities in Queensland. It also
has interests in investing in new aquaculture assets and enterprises, technology, and research
and development.
Seafarms directors and staff have expertise in agricultural and aquaculture economics, major
project approvals and engineering and scientific research and development.
Investment Opportunity - Aquaculture
Project Proponent
Industry
Location(s)
Capital sought or
required
Timeframe
Further information
Seafarms Group Limited
Aquaculture
Northern Territory. Following extensive geographical site analysis,
Seafarms has secured access to Legune Station near the Northern
Territory and Western Australian boarder, and is in the process of
securing approvals to commence development at that site.
Current analysis confirms that the site can support the development of
10,000 ha of grow-out ponds. The company’s analysis examined
elevation and slope, soils and vegetation, water availability, and access
to infrastructure.
Negotiable, depending on partner arrangements. Total project capex
$1.45 billion. Phase 1: A$120-150 million.
Jason Schoolmeester
Executive Director, Strategic Oil and Gas Development
Office of Major Projects, Infrastructure and Investment
Northern Territory Department of the Chief Minister
Email jason.schoolmeester@nt.gov.au
Phone (08) 8999 5081
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in nature and is for information purposes only. No representation about the veracity or accuracy of
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