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 first quarter 2018

Project description

Hands holding out Tiger prawns.Seafarms Group Limited is proposing a multi-million dollar aquaculture project in the Northern Territory and Western Australia, 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 and a commercial hatchery near Darwin, Northern Territory.

Stage 1 of the Project Sea Dragon Facility at Legune Station consists of 1120 hectares of land-based production ponds, 324ha of internal recycling ponds and infrastructure to produce over 10 000 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 the hatchery and breeding facilities and 500 jobs in Kununurra.

Project milestones

20 October 2017: Indigenous Land Use Agreement executed by all parties and lodged for registration.

1 September 2017: Northern Territory Government entered into a Project Development Agreement to provide certainty around: the government’s investment of AU$72.5 million in public roads and land tenure for the Northern Territory project sites.

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.

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

Anne Tan
General Manager, Strategic Infrastructure and Projects
Department of Trade, Business and Innovation

Phone: +61 8 8936 4206

Email: anne.tan@nt.gov.au

Download a printable version - Seafarms Group - Project Sea Dragon (pdf 255 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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