Tassal Group Limited (ASX: TGR) received all three major approvals from the Whitsunday regional Council and Queensland State Government for its prawn farm stage 3 expansion.
- The company now intends to commence construction of Stage 3 at the prawn farm near Proserpine, which in turn, would mark the addition of 80 hectares of ponds and a new hatchery infrastructure.
- TGR targets a total of 270 hectares for FY21 from the production ponds near Proserpine, which includes 80 hectares of Stage 3 ponds.
- The total production pond area in FY21 for the Mission Beach and Yamba farms would be 350 hectares.
The TGR stock was trading at $4.175, up by 2.32% at 1:32 PM AEST on 18 October 2019.
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