News: TGR Tassal Group says it is investing in a range of working capital and capital investment...

March 2 (Reuters) - Tassal Group Ltd (TGR) -

• Is investing in a range of working capital and capital investment initiatives
• Expects to invest $270 million in capital expenditure over next five years, with forecast return on this capital expected to exceed current levels
• Initiatives are expected to deliver an additional 2,500 - 3,000 hog tonnes of harvested salmon each year to fy21
• Initiatives to be funded via a fully-underwritten $80 million institutional placement and a non-underwritten share purchase for up to $20 million
• Initiatives include investment of $95 million over five years to accelerate roll out of improved net technologies
• Initiatives include investment of $53 million over 3 years to establish salmon farming operations in okehampton ,oceanic sites in storm bay