Alliance commits $25.9m for aquaculture development

The Fish Site
by The Fish Site
8 August 2007, at 1:00am

AUSTRALIA - PORT Lincoln aquaculture firm Clean Seas Tuna has teamed up with the Australian Seafood Co-operative Research Centre to help provide $25.9 million over the next seven years for aquaculture development.

The Seafood CRC and Fisheries Research & Development Corporation will each invest $600,000 a year over three years, with the option to extend this contribution up to 2014.

Clean Seas has an underwritten commitment of $4.2 million on research and development expenditure over the next seven years. The company will also make in-kind contributions of $9.3 million.

The remaining funding will come from participating research institutes which include Flinders University, University of the Sunshine Coast and others.

Clean Seas is also making a "untied" contribution to the CRC of $25,000 a year.

The investment aims at completing Clean Seas' closure of the lifecycle of southern bluefin tuna and improving the sustainable production of yellowtail kingfish and mulloway for world markets.

Source: Adelaide now