The Project Sea Dragon will cost $281M and is expected to export 6000 tonnes of prawn in the first year of operation.
Seafarms Group
Seafarms Group Limited has promoted Peter Fraser to Chief Executive Officer of the company. Less than a month ago the new 'Project Sea Dragon' CEO was appointed as Commercial Director to help with the development of the project.
Fraser has been an international business advisor to Seafarms since 2015 and has maintained and strengthened business relationships during all that time with Seafarms' major export partners such as Nissui and Primstar.
SFG Chair, Ian Trahar, linked this announcement to the challenges 'Project Sea Dragon' is experimenting with: "Today’s appointment of leading international aquaculture executive Peter Fraser to CEO marks a new phase in the realization of Seafarms' Project Sea Dragon."
"Peter is an international Seafood company specialist with the experience and capabilities to develop and commercialize Project Sea Dragon and turn Seafarms into a successful international aquaculture company," he added.
On the other hand, Trahar thanked retiring CEO, Rod Dyer for his trajectory commitment to Seafarms: "I would like to acknowledge the significant contribution of retiring CEO Rod Dyer for his work in stabilizing the business, growing the Queensland operations and continuing to position Project Sea Dragon for development, investment and growth."
"I am pleased Rod has agreed to continue as a non-executive director of SFG and look forward to continuing working with him, our new CEO and, our team to realize the full potential of Project Sea Dragon," he concluded.
Project Sea Dragon will cost $281 million and is expected to export 6000 tonnes of prawn in the first year of operation. The staged project will see up to 10,000 hectares of prawn ponds in production and 180,000 tonnes of prawns will be shipped overseas.
In 2023, Seafarms' renewed plans were clouded by a federal court case related to contractor payment. Seafarms announced a measure that would limit the amount it would pay Canstruct, specifically about 10% of what it believes it is owed.
