Triton to benefit from Aquaculture Innovation Program

Tom Rideout, Minister of Fisheries and Aquaculture, today announced that Triton will benefit from the department�s Aquaculture Innovation Program. The mussel farm operation of B & D Farms Limited in the community has received $13,000 to assist in increasing mussel harvesting capacity.

Minister Rideout said: "A current project of B & D Farms Limited involves the acquisition and installation of extra buoyancy to one of the company�s harvesting barges, which will make a significant contribution to its harvesting capacity. Mussel aquaculture has tremendous potential in this province and was worth over $6 million in 2005. To that end, I am pleased to make this contribution to the mussel aquaculture industry."

The extra buoyancy will increase the capacity of the barge and will decrease travel time and cost required to transport product to the wharf for trucking.

"We have only begun to tap the potential for aquaculture development in Newfoundland and Labrador," said Minister Rideout. "This province has the capacity to become the largest producer of aquaculture products in Canada, as we have many of the only remaining sites available for aquaculture development in eastern Canada.

"Less than 10 per cent of our province�s aquaculture space is currently being utilized. Our government wants to ensure we take appropriate advantage of this province�s full capacity," said the minister.

The Aquaculture Innovation Program assists aquaculture companies to evaluate, develop and adopt new technologies that reduce production costs, improve efficiencies and increase product quality.

"I am very pleased that government has been able to provide this funding to B & D Farms Limited," said Windsor � Springdale MHA Ray Hunter. "It is through investments such as this one that government can help to support and expand this growing industry. Aquaculture holds great potential for rural communities in Newfoundland and Labrador, and I am glad our government is committed to helping ensure its continued development and success."

Minister Rideout said: "Aquaculture is certainly the best kept secret in Newfoundland and Labrador, and further development of this sector is a key priority for this government. We are committed to making strategic investments in initiatives where benefits to the industry are evident. Our contribution to B & D Farms Limited certainly demonstrates this commitment."

Media contact: Lori Lee Oates, ABC, Communications, (709) 729-3733, 690-8403

2006 02 09                           10:10 a.m.