Mr Walsh said the Mainstream Aquaculture hatchery was a shining example of an innovative Victorian business that had been boosted by participation in Victorian Coalition Government Super Trade Missions.
“The hatchery is expected to generate annual revenue in excess of A$2 million, employ four full time staff and underpin Mainstream Aquaculture’s ongoing expansion,” Mr Walsh said.
“This will help the business meet increasing global demand for Victorian Barramundi seed stock. Exports make up an important part of Mainstream Aquaculture’s business with fish exported to 14 countries across four continents."
Mainstream Aquaculture participated in Coalition Government trade missions to South East Asia and the Middle East this year, where they met with government figures and industry leaders.
Following the South East Asia trade mission, Mainstream Aquaculture will supply a large scale Barramundi farm in Singapore with fingerlings for annual revenue of about A$250,000.
The hatchery is also in advanced negotiations with another Barramundi producer in the Middle East, around a supply contract that will generate a further A$250,000 in annual revenue. The first delivery is scheduled for February 2014.
“These deals show how valuable the Coalition Government’s trade missions are for Victorian agricultural businesses who want to expand, by creating and fostering relationships with key export markets they might not otherwise have been able to access,” Mr Walsh said.
“The Coalition Government’s A$50 million International Engagement Strategy is helping Victorian food and beverage businesses to capture global export opportunities, in order to create local jobs and boost the state’s economy.”
Managing Director and CEO Boris Musa said Mainstream Aquaculture was founded in 2001 with a vision of becoming the world’s leading provider of recirculating aquaculture food fish products.
“Mainstream Aquaculture now operates the largest recirculating aquaculture business in mainland Australia and is a top 10 domestic producer of Barramundi,” Mr Musa said.
“Through over a decade of research and development we have created and refined proprietary technology that is unique in enabling continuous, high quality, sustainable and efficient production of Barramundi.”