Salmon farmers to invest $260 million in Chile’s Magallanes region

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Large investments to be made over next five years.

Six companies that operate in Magallanes estimate they will spend a total investment of USD 260 million, destined mainly for land projects. The investments include fish farms and processing plants according to Radio Polar.

The Magallanes cool Antartic waters helped Australis Mar, Cermaq, Nova Austral and Salmones Magallanes to produce close to 87 thousand tonnes of salmon in 2018. Though this is a drop in production when compared to the 97 thousand tonnes produced in the previous 12 months.

Exports from Australis Mar, Cermaq, Nova Austral and Salmones Magallanes’ regional operations reached USD 480 million.

In 2018 there were 38 active fish farms in the region, although there are concessions for 130.