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Ref:613/03 |
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australia - Mar
20, 2003 |
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Abalone progress concern |
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Kellie
Dolan - Thursday, 20 March 2003
ESPERANCE Shire Council has ruled it will negotiate
with another bidder if insufficient progress is made
on abalone farm proposals at Wylie Bay.
Council agreed to extend the contract process with
Esperance Abalone Farms and Australian Ocean Harvest,
the preferred applicants for the development of
abalone aquaculture industries at Wylie Bay.
The companies will lose $10,000 if their projects do
not proceed within the next 12 months.
Council's February minutes show EAF and AOH will now
work together to jointly prepare a development concept
and to progress lease arrangements for the site.
In a letter to council, AOH managing director John
DeJose and EAF finance director Gerard Tonks said it
had been repeatedly demonstrated in WA that abalone
aquaculture was an expensive, long-term enterprise.
Investors generally insisted on projects being fully
approved before considering investment.
AOH had difficulties turning funding approvals into
cash investment.
EAF faced problems finding investors.
The EAF facility at Wylie Bay would be a grow-out site
using stock sourced from its Bandy Creek site. |
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