PGF to support a mussel processing facility in the Bay of Plenty.
Govt. announces investments in Eastern Bay of Plenty aquaculture initiatives
NEW ZEALAND
Saturday, December 15, 2018, 02:10 (GMT + 9)
The Provincial Growth Fund (PGF) has decided to invest in three initiatives in order to accelerate the development of aquaculture in the Eastern Bay of Plenty.
The announcement was made by Regional Economic Development Minister Hon Shane Jones and Fisheries Minister Stuart Nash.
“Aquaculture has a proud history in this part of New Zealand and with central Government support, the region can position itself to take full advantage of future opportunities in this growing and high-value industry,” Jones pointed out.
Minister Jones explained that to this end, the Government is to support Whakatohea Mussels Opotiki Ltd with an initial investment of NZD 850,000 (USD 583,201) to progress further work on a business case for a mussel processing facility.
The Government has also agreed, subject to the successful outcome of the business case, to invest up to a further NZD 19 million (USD 13 million) to support the construction of the on-land mussel processing factory. When fully operational this initiative has the potential to create more than 200 jobs in the region year round.
Mussel farm managed under the Whakatōhea Trust Board. (Photo: Whakatōhea Trust)
“The Whakatohea Māori Trust Board will receive up to NZD 950,000 (USD 651,812) to prepare a business case to accelerate the development of its aquaculture interests and settlement assets. The study will include looking at the potential for a commercial mussel farm and spat catching site including a scientific assessment for a deep sea water farm site,” Minister Jones stated.
He also highlighted that the PGF will invest NZD 750,000 (USD 514,589) to assist with the development of a business case to progress an affordable Ōpōtiki Harbour plan, which is the first step to transform the harbour into a productive area to support marine farming in the region.
For his part, Minister Nash said that aquaculture presents a compelling opportunity to transform the economic and social potential of the regions.
“Seafood export earnings reached NZD 1.8 billion (USD 1.23 billion) in the year ended June 2018, up 1.9 per cent on the previous year and we expect strong prices and increased aquaculture export volumes to boost export earnings to just under NZD 2 billion (USD 1.37 billion) by 2020,” he explained.
“Aquaculture is set to be the main driver for the forecast growth, thanks largely to increased mussel harvests, and higher prices as demand continues to grow in key markets,” Nash concluded.
editorial@seafood.media
www.seafood.media
|