Brazilian seafood processor Frescatto is investing a combined total of BRL17.5 million (€2.9 million/$3.5 million) in an expansion of production and a new packing line at its Duque de Caixas plant in Rio de Janeiro.
Completion could take 15 months, with Frescatto needing to jump through permitting and other bureaucratic hoops before work can start.
This comes as executives consider an IPO for the company three to four years down the line.
"We are working towards it but there is no set date.
