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Major step forward for $1.5bn Project Sea Dragon prawn farm with sale of Legune station

SEAFARMS, the company planning to build the biggest tiger prawn farm in the world in the Northern Territory, has sold Legune station the site for the proposed project.

SEAFARMS, the company planning to build the biggest tiger prawn farm in the world in the NT, has sold Legune station — the site for the proposed project.

The company said the sale to Brisbane-based AAM Investment Group (AAMIG) was completed on Tuesday and marked a significant step in the project’s go-ahead.

AAMIG is a major Australian diversified agricultural investment and asset manager specialising in agricultural operations throughout Australia.

“Further to an announcement made on October 31, Seafarms Group Limited advises that AAM Licensees Pty Ltd as trustee of the Pastoral Development Property Trust (PDT) has completed the acquisition of Legune Station,” the company said.

“This finalisation of the sale provides Seafarms with the long term (90 years) land tenure certainty and increases capital efficiency for the PSD project.”

Project Sea Dragon is a staged $1.5 billion development over seven years to create 10,000ha of ponds capable of producing 100,000 tonnes of high-quality Australian black tiger prawns each year.

It is forecast to create 1500 jobs once fully operational.

The sale of the 285,270ha Legune station includes all land and a cattle herd totalling 27,000 brahman cattle.

Legune Station is described as having a combined carrying capacity of 31,000 adult equivalents.

The part of Legune Station not used for Project Sea Dragon will be used as a pastoral lease for the cattle station operations.

AAMIG will be responsible for meeting the Pastoral Land Act requirements on Legune Station.

“Seafarms and Pastoral Development Trust have already finalised a sublease and co-operation agreement that provides Seafarms access to Legune Station for the construction, development and operation of the whole of Project Sea Dragon,” Seafarms said.

Development of Project Sea Dragon has already started with earthworks at Legune Station as well as the start of works for the upgrade of the Keep River Rd.

The project is now undertaking expressions of interest and tendering processes for work at the Legune Station and Bynoe Harbour facilities.

The following work packages for Bynoe Harbour are open for expressions of interest (closing 11/1/19): pond weather protection structures; broodstock sheds; electrical reticulation; process equipment, piping and dry commissioning; buildings; hydraulic reticulation; seawater recirculating aquaculture system; seawater ozonation and filtration system; supply, delivery and commissioning of raw seawater pumps; supply, delivery and commissioning of diesel generators; aquaculture and water storage tanks.

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Original URL: https://www.ntnews.com.au/news/legune-station-sale-steps-15b-project-sea-dragon-prawn-farm-project/news-story/9dc0f3242099f9972d52e940e59d3b4d