28 Apr 2010

Aquaculture firm predicts growth due to reforms

6:09 am on 28 April 2010

New Zealand's largest producer of salmon says it has the potential to grow significantly under reforms announced by the Government.

Plans were outlined on Tuesday to turn the industry into a $1 billion export earner by 2025.

The reforms will target the Resource Management Act's planning and consent processes to reduce costs, shorten timeframes, create certainty and build investment confidence.

New Zealand King Salmon, in Nelson, runs its business on five hectares of water, producing 7500 tonnes of fish annually.

Under the reforms it hopes to expand to 20 hectares, producing about 30,000 tonnes and growing into a company worth $500 million.