Tassal gains $5m grant for barramundi farm growth

Major seafood producer Tassal Group has received a $5 million grant from the state government to aid its barramundi farm growth plans.

Seafood producer Tassal Group received the funding boost  through the state’s Investment Attraction Fund to expand its Yaloon/Cone Bay barramundi production operations in northern WA.

In August, Tassal bought the barramundi farms through the acquisition of MPA Fish Farms Pty Ltd and MPA Marketing Pty Ltd from under the Marine Produce Australia (MPA) umbrella, which had been in administration since early 2023.

MPA was then placed in liquidation after those asset-rich subsidiaries were sold to Tassal, including the country’s only ocean-based barramundi farm.

The state government said it signed a seven-year lease with Tassal in December to use two sites at the Broome Tropical Aquaculture Park with plans to build a new nursery.

“Tassal will use the grant to support its investment in modernising the operations at the Cone Bay barramundi farm to increase production and boost supply of the popular seafood brand to domestic markets,” the state government said.

“Upgrades will include the installation of new sea cages, wildlife fences, improved walkways and access platforms, a new automated feeding system, and water monitoring and cleaning systems.”

Fisheries Minister Don Punch said the aquaculture industry had tremendous potential for growth in Western Australia.

Mr Punch said he was pleased to welcome Tassal to the Broome Tropical Aquaculture Park, which would undergo a major redevelopment to help realise this potential.

"The Cook government looks forward to working with Tassal to expand its seafood operations in the Kimberley region, which will secure more local job opportunities and help drive aquaculture development in northern Western Australia."

Tassal is owned by Canadian aquaculture and seafood family of companies Cooke Inc, after it was aquired under a $1.7 billion deal in 2022.