Barramundi Group

ONE business looking to take advantage of the global sustainability phenomenon (see story above) is Perth-based ASX-listed aquaculture company Marine Produce Australia (MPA).

MARINE Produce Australia has exercised its option to 100 per cent ownership of the Barramundi Sea Cage Farming Joint Venture with Maxima Fish Farms.

Western Australia’s aquaculture sector, long touted as having strong growth prospects, is moving forward on two fronts, with Marine Produce Australia launching a $4 million capital raising and Western Australian Abalone close to completing a $1.8 million

Perth investors who like the taste of barramundi are currently in the rare position of being able to select from an investment menu with three Western Australian aquaculture companies.

Marine Produce Australia Ltd 13-Jul-05 Faustus Nominees Pty Ltd decreased its relevant interest from 28,628,215 ordinary shares (20.05%) to 25,628,215 ordinary shares (17.95%)

The revolving door outside the boardroom of budding aquaculture producer Marine Produce Australia, which has been spinning fast for the past year, hit top speed this month.

Western Australian businesses are being drawn to the long-term growth opportunities offered by the aquaculture sector as increasing demand from Asia drives investment.

The $3.6 million allocated to the sector in the recent state budget is an early salvo in attempts to expand WA’s economic offering.