Blumar begins $120Mn Magallanes spend

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Chile’s Blumar is preparing to stock its news concessions in the pristine Magallanes region in the country’s south, where second-quarter operations are part of a USD 120 million investment to strengthen production away from the algae-prone Puerto Montt area.

Some 3.5 million smolts are to stocked over the next three months, rising to 4 million in 2019, writes Aqua.cl.

“The company is awaiting the granting of some concessions that are in the final stage of processing,” Blumar chief exec, Gerardo Balbontin, was quoted by Aqua as saying, adding that the Magallanes expansion would wrap up by 2022, when new rules for the southern producing region are expected to coincide with 20,000 tonnes of area production.

Stricter rules that in Puerto Mont currently apply to the Magallanes, a reality Balbontin reportedly said was limiting growth even for concession holders.