One of Australia’s leading barramundi farms, Humpty Doo Barramundi has received a $24.2 million loan from the Northern Australia Infrastructure Facility (NAIF) to expand its operations.
The NAIF loan, alongside private bank co-funding, will fund the construction of a purpose-built hatchery for saltwater barramundi. Humpty Doo Barramundi (HDBarra) CEO Dan Richards said the NAIF and ANZ financing was a major boost for the company.
“We are pleased to be able to make this further investment towards making Australia self-sufficient in producing Australia’s iconic saltwater barramundi,” Richards said.
Minister for Resources, Water and Northern Australia Keith Pitt said the funding would support around 110 jobs during construction, and a further 160 jobs when the new hatchery is up and running.
Assistant Minister for Northern Australia Michelle Landry said the loan was NAIF’s second investment in Humpty Doo Barramundi, following a $7.18 million loan for the pond and nursery facilities which were completed last year.
This year HDBarra will produce around 3600 tonnes of saltwater barramundi. The farm is built on what was once degraded rice fields halfway between Darwin and Kakadu on a bend in the Adelaide River.
Owner and MD Bob Richards started the farm in 1993. He is regarded as an industry pioneer who has made significant investment into R&D in an untried territory.
Earlier this year, Dan Richards told Food & Drink Business: “Both Dad and I have an environmental management background, so environmental management was a passion from the beginning. We very much see ourselves as custodians on the land. We pride ourselves on our rigorous environmental management systems and have reduced our water discharge to almost nil. Our water treatment system is the first of its kind in Australia.”
