US-headquartered barramundi farmer Australis Aquaculture plans to inject a further $800 million into its Vietnam operations over the coming years, reports Vietnam Investment Review.
It has already invested $200m, and Josh Goldman -- co-founder and CEO of Australis -- said further cash would be allocated for farming and processing infrastructure, biomass creation, research and development, and the renewal of biomass over time.
"Beyond our current base of operations in the south-central province of Khanh Hoa, we are working to establish Vietnam's first farms in the open ocean, as well as a second regional hub in Kien Giang province," he said.
Australis has spent a decade adapting the technology of the global salmon farming industry to tropical conditions for barramundi in Vietnam, he said.
"Our approach is to leverage salmon industry knowledge and build the supply and demand for barramundi in key markets globally with the aim of establishing barramundi as a tropical salmon."
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