KEY POINTS:
The Government has announced funding of $2.6 million over four years for six new aquaculture projects.
Environment Minister Trevor Mallard said the projects in Tasman, Northland and Marlborough would help create new aquaculture space and explore ways to farm new species in existing space.
Fisheries Minister Jim Anderton said the projects were important for the development of the industry.
"Aquaculture has immense potential to help transform New Zealand's economy in both environmentally and socially sustainable ways," he said.
"The New Zealand farmed fish and shellfish production is now worth $300 million a year and there is an industry strategy in place to reach a billion dollars in sales by 2025."
The chief executive of Aquaculture New Zealand, Mike Burrell, welcomed the announcement and said the projects would benefit the industry.
- NZPA
