Investment opportunities

Seafarms Group - Project Sea Dragon

Location: Northern Territory, Australia

Project proponent: Seafarms Group Limited

Sector: Aquaculture

Investment type: Offtake, debt or equity

Estimated total project cost: US$1.5 billion

Investment amount sought: Negotiable, depending on partner arrangements

Project status: Final investment decision expected June 2017

Project description

Hands holding out Tiger prawns.Seafarms Group Limited is proposing a multi-million dollar aquaculture project on Legune Station in the Northern Territory, which could be one of the biggest in Australia.

Project Sea Dragon will deliver the world’s largest integrated aquaculture development and at full scale will have the capacity to produce over 100,000 tonnes of Black Tiger prawns a year for export.

Project Sea Dragon is centred on a grow-out facility at Legune Station in the Victoria River District of the Northern Territory, 106 kilometres from Kununurra in Western Australia, and includes a quarantine facility in Exmouth, a processing facility in Kununurra (both in Western Australia) and a breeding centre near Darwin, Northern Territory.

Seafarms is committed to creating a world-class, biosecure project. The location of each element of Project Sea Dragon has been specifically chosen to be geographically separated and away from other prawn aquaculture facilities as part of Seafarms’ biosecurity strategy.

Stage 1 of the Project Sea Dragon facility at Legune Station consists of 1,120 hectares of land-based production ponds, 324 hectares of internal recycling ponds and infrastructure that will ultimately produce 14,000 tonnes of prawns each year. At full operation Project Sea Dragon is estimated to create about 700 jobs for local people on the ground at Legune Station, 300 jobs at a Darwin-based hatchery and breeding facilities and 500 jobs in Kununurra.

Seafarms has partnered with the local Industry Capability Network to ensure all employment and contract opportunities are made publicly available.

Project proponent

Seafarms Group Limited is an Australian agri-food company which operates, builds and invests in sustainable aquaculture production platforms producing high-quality seafood. Seafarms is currently Australia’s largest producer of farmed prawns - growing, processing and distributing the well-known Crystal Bay Prawns® premium brand.

The company is one of Australia’s largest aquaculture enterprises and is also developing Project Sea Dragon - a large-scale, integrated, land-based prawn aquaculture project in northern Australia designed to produce high-quality, year-round reliable volumes for export and local markets.

Seafarms Group Limited is listed on the ASX (ASX: SFG).

Map of north-west Australia showing locations for Founder Stock Centre, Exmouth, WA; Kununurra, WA; Legume Station, NT; Darwin Point Ceylon, Bynoe Harbour, NT.

Contact details

Seafarms Group Limited

Phone: +61 8 9321 4111

Email: info@seafarms.com.au

Jason Schoolmeester
Executive Director, Northern Australia Development Office
Department of Trade, Business and Innovation

Phone: +61 8 8999 5081

Email: jason.schoolmeester@nt.gov.au

Download a printable version - Seafarms Group - Project Sea Dragon (pdf 870 kb)

For more information on Project Sea Dragon go to the Seafarms Group website.

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Disclaimer: This web page includes information provided by third parties. The information is general in nature and is for information purposes only. The Northern Territory Government makes no representation about the veracity or accuracy of information provided by third parties. You must rely on your own due diligence before proceeding. You should consider seeking independent professional advice.

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