An Australian federal court judge has ordered that Project Sea Dragon (PSD), the massive northern Australian shrimp farm endeavor owned by Seafarms and backed by Japanese seafood giant Nissui, be liquidated.
The project, a staged development of up to 10,000 hectares of shrimp production ponds, supported by a series of geographically separate facilities across northern Australia, has had a decade-long history of challenges.
But its final downfall may have come in not settling a pay dispute with Canstruct, the Australian construction company contracted to build much of the farm's substantial Northern Territories infrastructure.
