Tilabras, a partnership between Regal Springs in Miramar, Fla., USA, and Axial, a holding company of Mar & Terra in Brazil, plan to invest USD 51 million (EUR 55.5 million) in a new tilapia production facility in Brazil.
The companies recently purchased land equivalent to one third of Ibirapuera Par in Selvíria, on the river shore, where they will build a processing plant, according to Brazil’s Secretary of Planning and Planning Aquaculture, Felipe Matias.
“We are absolutely sure that this is the biggest investment in the aquaculture sector in Brazil, not only for the production improvement, but also for putting Brazil on the map of the big aquaculture players in the world,” Matias told SeafoodSource. “The fact that Regal Springs has decided to come to Brazil certainly will make other companies look at our country as a very big opportunity to improve their businesses.”
The companies plan to produce 25,000 metric tons (MT) of tilapia annually, and quadruple that production by 2020. Brazil currently produces 150,000 MT of tilapia annually.
“We have not comment on this matter,” said Regal Springs Marketing Manager Francis Yupangco when contacted by SeafoodSource.
As part of the Ministry of Fisheries’ Aquaculture Development Plan 2020, the government is working to attract additional investments from Brazilian and international aquaculture firms, according to Matias. “We are also trying to attract a big player in mussels and shrimp production, but we still have space for other big companies to invest in fishculture as well, especially for tilapia production.”
