Joint Venture with Malaysian Government to Proceed
Cell Aquaculture Ltd (ASX Code: CAQ) are pleased to announce the following today:
· CAQ to commence Joint Venture with Malaysian State Government to develop 700 ton per annum finfish production from land based CellT systems.
· Deal will generate approx AUD$7 million revenue for CAQ during the 18 month development phase from supply of proprietary CellT equipment and associated services to the Joint Venture.
· Joint Venture facility forecast to generate annual revenues of approx AUD$7.4 million per annum when full capacity is reached.
· Export strategy developed to sell production primarily into Japan, Hong Kong & Singapore.
· Discussions for expansion to 2,500+ tons per annum across a range of species.
To view the full ASX announcement, please click on the following link:
http://www.cellaqua.com/files/Malaysian-JV-to--Proceed---150207.pdf
For further information, please visit www.cellaqua.com or e-mail [email protected]
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