Santiago Mendoza, CEO of OCEAMFARM said the company is very grateful to the Ministry of Aquaculture and Fisheries for supplying the grant.
The company will, in stages, investment around $5 million into equiptment for the farming of shrimp and white snapper.
Some of the equiptment will come from the US and it is expected that these will take 100 days to arrive.
Mariculture has already been developing successfully with certain species in countries such as Chile, Peru, Spain, Mexico, Norway, United States, Japan, China, Australia and New Zealand.
The Deputy Minister of Aquaculture and Fisheries, Guillermo Moran explained that OCEANFARM SA is one of the first company to benefit from this initiative that allows species to be directly developed in the sea.