Seafarms' Project Sea Dragon development has taken another positive step with signing an offtake agreement with major European seafood distributor Primstar B.V.
This is a huge boost for Project Sea Dragon and shows it is on track to deliver 1000 new ongoing jobs for Territorians.
Under the agreement Primstar will market black tiger prawns from the Territory's Project Sea Dragon development to European markets, taking 15% of the total annual production of the initial stage of the project at market based prices.
Primstar is a large European seafood supplier and distributor; and in conjunction with Seafarms Nissui off-take agreement approximately 35% of production from the initial stage of Project Sea Dragon will be distributed.
Last week Seafarms announced $200 million worth of contracts are anticipated to be released for Project Sea Dragon development and will be available for Northern Territory businesses to tender for through the Northern Territory's Industry Capability Network (NTICN) project gateway.
At full scale, Project Sea Dragon has the potential to create around 1500 ongoing jobs, of which around 1000 will be located in the NT (700 at Legune Station and 300 at a Darwin-based hatchery and breeding facilities, along with the main office in Darwin).
The Territory Labor Government has invested over $56 million in roads which will help support this massive job creating project, with Keep River Plains Road, the main gateway to Project Sea Dragon, more than 65 per cent complete.
This week's offtake agreement will assist Seafarms continued progress of Project Sea Dragon's development, funding and construction plans as it moves to implement the project at the earliest opportunity.
Quotes attributed to Minister for Primary Industry and Resources, Paul Kirby:
"Project Sea Dragon will be a jobs jackpot for the Territory. This is what we're all about – good jobs, local jobs, and permanent jobs.
Project Sea Dragon is an exciting project which has many benefits for the Northern Territory. It will create up to 1500 permanent jobs, and 1000 of them will be right here in the NT. And it will diversify the Territory's economy by delivering a new industry for Australia.
"The choice at the next election is between the Government's plan for more local jobs, or the CLP's plan for cuts.
"This weeks announcements of Project Sea Dragon prawns being distributed throughout Europe puts the Territory on the map and shows we are open for business and have the ability to create quality products.
"Primary industry plays a vital role in our economic development, and cementing the NT as the capital of Northern Australia."
