Province to provide salmonid aquaculture data to prospective investors

The Department of Fisheries and Aquaculture has awarded a contract to an engineering consulting firm to conduct an assessment of freshwater resources for salmonid aquaculture.

CBCL Limited of Corner Brook has been commissioned to deliver a comprehensive list of water sources in Newfoundland and Labrador that have the potential for salmonid hatchery development. These data will be used by the provincial government to strengthen its efforts to attract investors to the aquaculture industry.

The Freshwater Resource Assessment for Salmonid Aquaculture project presents a significant opportunity for hatchery development within the province. The project will focus on identifying water sources that investors may further explore for hatchery development. This is essential information for salmonid companies within and outside the province who are interested in developing or expanding hatchery operations. The aquaculture industry currently imports the majority of its fish fingerlings grown in the province.

"We need to provide potential investors with key information about the aquaculture industry and our province�s environment," said Trevor Taylor, Minister of Fisheries and Aquaculture. "Aquaculture is one of the most rapidly expanding food sectors in the world. This is the type of hard data that prospective business operators need to encourage them to set up an aquaculture operation in Newfoundland and Labrador."

The Freshwater Resource Assessment for Salmonid Aquaculture project is the latest strategic investment by the province to help grow the province�s aquaculture industry. In November, the Government of Newfoundland and Labrador unveiled the Aquaculture Working Capital Loan Guarantee Initiative, which will improve access to financing for qualified salmonid aquaculture companies who need working capital.

Media contact: Alex Marland, Communications, (709) 729-3733 or (709) 690-6047

2004 12 08                           9:15 a.m.