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Chilean salmon firms Blumar, Multiexport form JV for new processing operation

Subsidiaries of the company have agreed to participate in the running of Punta Arenas plant in Chile.

Salmon giants Multiexport and Blumar have agreed to establish a new venture to handle processing in Punta Arenas, in Chile's Magallanes region.

The new venture, Entrevientos, will be owned 50/50 by Multiexport subsidiary Multiexport Patagonia. Blumar subsidiary BluRiver will own the other half.

The companies will process salmon from their respective farms in the area at the new processing site, which is already under construction, Multiexport said in a note to Chile's financial regulator.

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Multiexport Foods recently became the first Chilean salmon producer to gain the Global Aquaculture Alliance Best Aquaculture Practices (BAP) group certification.

In total, 14 farms attained certification under the two-year BAP group audit, which is established specifically for salmon producers.

Blumar is close to deciding on the construction of a $30 million (€27.1 million) hatchery in Magallanes, where the new venture's processing plant is situated.

Both announcements come at a critical juncture.

The region is currently under the threat of a new proposal that seeks to eliminate the renewability of salmon concessions in the area, which would lead to the expiration of around 50 percent of the concessions existing in Magallanes.

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