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September 10, 2013

Australia

Billion Dollar Farm Update

 

 

CO-2 Group, Australia’s leading environmental services company (specializing in carbon sequestration), plans to proceed with the development of a 10,000-hectare tiger shrimp (Penaeus monodon) farm (Project Sea Dragon) in northern Australia that hopes to produce 100,000 metric tons of shrimp a year.  The farm will be developed by CO-2 Group’s subsidiary, Western Australian Resources Limited (WARL), a company established in 2005 to develop large-scale aquaculture projects.

 

Recently, WARL acquired Marine Farms’ aquaculture site in Exmouth Gulf, Western Australia.  The purchase is a key step in the advancement of WARL’s Project Sea Dragon.  The site will be upgraded and converted into a shrimp broodstock facility.  Facilities will be used to hold, rear, breed and test animals.  The site was purchased for about $465,000, less than it would cost to build it, and it already has operating permits, allowing WARL to move its development plan ahead by 12 months.  To upgrade the five-hectare site for the production of broodstock WARL, plans to spend about $280,000.

 

Sources: 1. ProactiveInvestors.com.au.  C02 Group Acquires Strategic Prawn Broodstock Facility in Exmouth, WA.  September 9, 2013.  2. TheWest.com.  Company Steps Up Prawn Farm Plans.  Brad Thompson.  September 10, 2013.

 

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