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December 21, 2013

Australia

CO2 Plans to Raise $354 Million, then $1 Billion

 

CO2 Group Limited’s agribusiness unit, Western Australian Resources, Ltd. (WARL), is seeking to raise $357 million by June 2014 from foreign financial institutions, private equity firms and interested investors to develop a 2,000-hectare shrimp farm in northern Australia or Queensland that could produce 20,000 metric tons of shrimp annually.  It has already spent $8.9 million on feasibility studies and a broodstock facility (below), and on December 20, 2013, announced the purchase of Seafarm, the oldest and largest shrimp farm in Australia, for $10 million.  Seafarm produces about 2,000 tons of banana shrimp (Penaeus merguiensis) annually.

 

Eventually, Robert Bell, WARL’s managing director, said his company hopes to raise as much as $1.3 billion to fund the development of as much as 10,000 hectares of shrimp (P. monodon) ponds that could produce 100,000 metric tons of shrimp annually.  The company already owns 150 hectares of ponds in Exmouth, Western Australia, that it plans to use for producing broodstock.

 

Ian Trahar serves as an Executive Chairman of CO2 Group, Ltd., and has been its Executive Director since November 12, 2001.

 

Information: Robert Bell, CO2 Group Limited, Level 11, 225 St. Georges Terrace, Perth, Western Australia, Australia 6000 (phone 08-9321-4111, fax 08-9321-4411, email info@co2australia.com.au, webpage www.co2australia.com.au).

 

Sources: 1. Data Room.  Agribusiness Firm to Raise $400M for Prawn Farms.  Brett Cole.  December 20, 2011.  2. The West Australian.  Prawn Farmer Nets Aquaculture Firm.  Brad Thompson.  December 21, 2013

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