Project Sea Dragon

Location: Northern Territory, Australia

Project proponent: Seafarms Group Limited

Sector: Aquaculture

Investment type: Debt, equity and offtakes

Estimated total project cost: US$1.5 billion (stage 1A is US$240 million)

Investment amount sought: US$240 million

Project status: Investor ready

Project description

Project Sea Dragon is a multi-million dollar aquaculture project based in the Territory and Western Australia (WA).

Project Sea Dragon will deliver the world’s largest integrated aquaculture development and at full scale will have the capacity to produce over 150 000 tonnes of black tiger prawns a year for export.

Project Sea Dragon is centred on a grow-out facility at Legune Station in the Victoria River District of the NT, 106 kilometres from Kununurra in WA. Other elements include a quarantine facility in Exmouth, a processing facility in Kununurra (both in WA), with a core breeding centre, a broodstock maturation centre and a commercial hatchery located near Darwin in the Territory.

With all government approvals obtained and export off-take agreements signed the project is shovel-ready.

Stage 1 of the Project Sea Dragon facility at Legune Station consists of three farms with a total of 1120 hectares of land-based production ponds and associated infrastructure to produce over 12 000 tonnes of prawns each year. Stage 1A (farm 1) will produce 6000 tonnes per year. Construction is planned to start in mid 2020.

The Legune power station is to be delivered by a third party on a build, own and operate basis.

Hand holding tiger prawn

Project proponent

Seafarms Group Limited (ASX:SFG) is a sustainable aquaculture company, producing the premium Crystal Bay® Prawns and developing the Project Sea Dragon prawn aquaculture project in northern Australia.

Map of the Top End showing locations of Founder Stock Centre and Quarantine Centre - Exmouth, WA; Grow-Out Facility - Legune Station, NT; Core Breeding Centre and Broodstock Maturation Centre, Darwin, Point Ceylon - Bynoe Harbout, NT; Hatchry - Gunn Point, NT; Processing plant - Kununurra, WA.

Contact details

Seafarms Group Limited

Phone: +61 8 9321 4111
info@seafarms.com.au

Maria Duchateau
Principal Project Officer, Investment Territory
Department of Trade, Business and Innovation

Phone: +61 8 8999 6028
major.projects@nt.gov.au

Disclaimer: This web page includes information provided by third parties. The information is general in nature and is for information purposes only. The Northern Territory Government makes no representation about the veracity or accuracy of information provided by third parties. You must rely on your own due diligence before proceeding. You should consider seeking independent professional advice.