Multiexport, Blumar building 50,000-metric ton plant in Magallanes

Chilean salmon farmers Multiexport and Blumar signed a Memorandum of Understanding (MoU) to build a $40 million (€35.2 million) processing plant in Punta Arenas, Magallanes, the companies said in a notification to the National Stock Market Commission.

Both companies began stocking Atlantic salmon in Magallanes in 2018 through subsidiaries Multiexport Patagonia and BluRiver, respectively, and plan to harvest the first batches of salmon in 2020.

The new facility will have a capacity to process 50,000 metric tons of Atlantic salmon (WFE) a year, and will be ready in the first quarter of 2020.