Close Up Of A Cluster Of Oysters Growing On A Rope At An Oyster Farm With Water And Trees In The Background

NZ government plans to invest nearly NZD 1m in regional aquaculture industry

The New Zealand government plans to invest NZD 924,000 ($620,650) in the thriving aquaculture industry of the Coromandel region.

Written by: editorial / Undercurrent news

Shane Jones, New Zealand’s minister for regional economic development, said in an announcement on Dec. 26 that the money, taken from the country’s NZD 3 billion ($2.01bn) provincial growth fund, would be spent on developing Coromandel’s aquaculture and marine services.

In particular, the funding is aimed at reducing the region’s shortage of boat ramps and ‘all-tide’ facilities.

According to Jones, NZD 558,000 ($375,000) will be spent on improvements to Sugarloaf Wharf, where the rapid growth in the country’s aquaculture demand makes expansion of the available facilities a necessary first step.

In addition, NZD 93,850 ($63,000) will be put towards the Coromandel Marine Gateway while NZD 270,000 ($181,000) will be given to the Kopu Marine Precinct.

Jones expects aquaculture production in Coromandel to double within the next 10 to 15 years, with a potential to create 550 new jobs.

New Zealand’s aquaculture has grown by 70% in the past seven years, and the Coromandel funding follows the announcement of an NZD 500,000 ($338,000) government grant for a salmon hatchery near Invercargill on Dec. 20.

Situated on the northern edge of New Zealand’s North Island, the Coromandel Peninsula supplies roughly 26% of the country’s green shell mussels and 24% of its Pacific oysters.

Source: https://www.undercurrentnews.com/2018/12/31/nz-govt-invests-nearly-nzd-1m-in-regional-aquaculture-industry/

Email This Post Email This Post

Leave a Reply

Your email address will not be published. Required fields are marked *

Search