Minister to meet with aquaculture investors during International Boston Seafood Show

Tom Rideout, Minister of Fisheries and Aquaculture, today said that he will hold meetings with two New Brunswick based aquaculture companies during the International Boston Seafood Show. The purpose of the meetings will be to discuss potential aquaculture development in Newfoundland and Labrador.

Minister Rideout said: "I will be continuing discussions with Cooke Aquaculture in Boston to further explore the company�s intentions with respect to the plant at Fortune. We had a very productive meeting last week in Halifax, and we look forward to meeting with them again this weekend."

Cooke Aquaculture, a prominent aquaculture company based in New Brunswick, has been approved for three licences in Fortune Bay. The company has recently expressed interest in acquiring the FPI facility in the community of Fortune.

Minister Rideout will also be meeting with Corey Feeds, a prominent aquaculture feeds manufacturer.

"The province is committed to assisting the aquaculture industry in growing to its fullest potential in an economically and environmentally sustainable manner, and this includes support sectors such as feed transport and storage in the province," said the minister. "This company has been supplying hatchery feeds and marine cage feeds to several producers, and have indicated that they are looking at more cost-effective transport and feed storage to service the aquaculture industry."

"This could prove to be very significant for the entire Connaigre Peninsula," continued the minister. "I understand that the company has had discussions with both the Town of Harbour Breton and the Barry Group on this issue. I look very forward to meeting with the company to discuss these and other issues."

Minister Rideout reiterated the importance of the aquaculture industry to this province. "Aquaculture is the best kept secret in Newfoundland and Labrador," said the minister. "Our province has some of the only remaining sites suitable for aquaculture development in eastern Canada. This represents a phenomenal opportunity for the future, and we are committed to making the most of that opportunity. This is a goal that we certainly tend to explore in Boston."

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

2006 03 09                             10:50 a.m.