Chilean fishing and aquacultural company Blumar and Multiexport Foods, the seafood products unit of fishing company Multiexport DOS SA, have agreed to jointly construct a $40 million processing plant in southern Magallanes region, Chile.
With the investment, the companies will acquire land to construct a hatchery in the region with its construction planned at a later stage, following surveys of the availability of water.
Blumar said that the investment is in line with its $150 million investment plan in farms and processing in the Magallanes region last year.
Blumar said that the smolt plantings in the Magallanes region will start during October to gradually increase its annual production of salmon closer to 100,000 tonnes per year. The deal is subjected to the approval of the plan by Blumar’s directors and Chilean regulators.