Seafarms gives updates on QLD and NT operations

Company News

by David Chau

Aquaculture company, Seafarms Group Ltd (ASX:SFG), says its overall production of prawns in Queensland rose by around 24% to 1,728 tonnes in 2016.

Seafarms also says a recent outbreak of white spot disease south of Brisbane, which may have come from imported raw prawns, has not affected its operations.

The company also gave an update in regards to Project Sea Dragon – its large-scale, land-based prawn aquaculture project in northern Australia.  It will submit an environmental impact statement to the Northern Territory government this month.

Furthermore, Seafarms expects to complete a Project Development Agreement with the Northern Territory Government in February 2017.

Seafarms posted a net loss of $18.4 million at 30 June 2016.

David Chau

Finance News Network
David joined FNN in April 2016. In addition to presenting the Market Outlook and latest business news stories, David interviews senior economists and CEOs of ASX-listed companies. Prior to working for FNN, David was a litigation lawyer.