Barramundi farmer Australis has signed a $15 million (€13.8 million) convertible note with the Asian Development Bank (ADB) to promote ocean-based barramundi and seaweed aquaculture in Vietnam.
The investment will fund working capital to expand Australis’ operations at Van Phong Bay in the center of the country and support the development of a second regional production hub in the south.
An additional $3 million (€2.8 million) grant will be provided by the Climate Innovation and Development Fund (CIDF), administered by ADB.
