Tasmanian-based salmon producer Huon Aquaculture plans to develop a big kingfish operation off Western Australia.
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The WA state government has said thousands of direct and indirect jobs are anticipated when the fish farming operation reaches full capacity.
It involves a 2200 hectare lease in a new aquaculture zone off the Houtman Abrolhos Islands, about 60 kilometres west of Geraldton.
Huon said it considered the project as the next step in its strategy to diversify its operations into high-demand species.
The company said it could take up to two years to get to operational stage.
It is also trialing kingfish production off the north coast of New South Wales.
Aquaculture involving Huon and its competitors has been controversial in parts of Tasmania.
WA Premier Mark McGowan was enthusiastic about Huon’s kingfish plans.
“Having visited the Mid-West region several times already this year, the benefits of growing aquaculture in this area is becoming more apparent,” he said.
“Aquaculture gives this region an added point of difference which will create jobs and boost the local economy."