Australian shrimp farmer Seafarms Group (SFG), the company behind the embattled Project Sea Dragon (PSD), has hired a new CEO.

PSD Commercial Director Peter Fraser will take the reins from current CEO Rod Dyer.

SFG appointed Fraser to the role of commercial director of PSD in January.

The project, a huge land-based shrimp farm in Australia's Northern Territories, recently launched an appeal against a court order it be liquidated.

For 14 years before joining SFG, Fraser was the proprietor and managing director of Perth-based Ocean and Earth Seafoods, specializing in high-end seafood products.