Farmed tilapia. (Photo Credit: Regal Springs)

Regal Springs will produce tilapia in Brazil

A new company formed by the association of Axial Holding with Regal Springs for tilapia production, processing and distribution for the domestic market and for export will be installed in the state of Mato Grosso do Sul.

"It is a milestone both in relation to the scale of the undertaking and to the size of the company. No doubt, it will attract the attention of international competitors," said Minister of Fisheries and Aquaculture, Helder Barbalho.

According to the Ministry of Fisheries and Aquaculture (MPA), the birth of this company, called Tilabras, is the result of ongoing efforts to create an environment of legal certainty to allow the development of aquaculture in the country.

Regal Springs is an American company deemed as the largest and most efficient tilapia producer in the world, which has operations in Mexico, Honduras and Indonesia.

In the first stage of the project a total of USD 51 million will be invested and it will start with 25,000 tonnes of tilapia per year, but it is expected to quadruple this production level by 2020.

The operation in Brazil will have a nursery (with capacity to produce 15 million fry per month in two years), a fattening farm (with a capacity of 100,000 tonnes/year of tilapia over five years), a meat factory and a fishmeal and feed plant.

When fully operational, the company is expected to generate 1,850 direct jobs and 3,000 indirect ones in the region of Selvíria, in Mato Grosso do Sul.

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