Seafarms Group will be farming these types of black tiger prawns for its Project Sea Dragon. Picture: Supplied
BUSINESS
Territory’s $1.5 billion Project Sea Dragon continues to move forward
GARY SHIPWAY, NT News
November 9, 2017 11:01am
The momentum to establish one of the world’s largest prawn farms – project Sea Dragon – in the Northern Territory continues to gather pace with another key hurdle being cleared.
Project Sea Dragon is a staged $1.5 billion development over seven years to create 10,000ha of ponds capable of producing 100,000 tonnes of high-quality Australian black tiger prawns each year. Seafarms Group, the company behind the ambitious project, said the Northern Territory Pastoral Land Board had issued a non-pastoral use permit (NPUP) for stage 1 of Project Sea Dragon.
The NPUP is the instrument that allows aquaculture as an activity at Legune Station while it is still a pastoral lease prior to conversion to other tenure. Legune Station lies on the far north coast of the NT, just east of the West Australian border.
“This provides the tenure for commencement of stage 1 of the project,” the Seafarms Group said in a statement. “The issue of the NPUP is a further significant milestone for the development of Project Sea Dragon and demonstrates further progress in the project achieving its secondary approvals.”
Project Sea Dragon is to be developed over a number of stages, with stage 1 involving 1180ha of production ponds, increasing to over 2000ha in stage 2.
Development of the stage 1 production ponds at Legune Station is scheduled to start next dry season.
All environmental approvals and native title deals with traditional indigenous landholders are locked away for Project Sea Dragon.
More than $70 million of funding has been provided by the NT, WA and federal governments to build a year-round sealed road into Legune Station.
Japanese and Chinese investors are keeping a close watch on the project’s progression, looking at guaranteed prawn supply offtake agreements, while there is also interest from investors linked to Norway’s salmon farming industry and Scandinavian sovercheers]eign funds.
