Provincial investment ‘absolutely necessary’ for massive Placentia Bay $230-million aquaculture project

aqua-maof-group-marystown-sea-cagesThe companies behind a massive aquaculture project proposed for say government investment is “absolutely necessary,” but Fisheries and Aquaculture Minister Steve Crocker says the province will not be rushed into a decision. A spokesman for Grieg NL Nurseries and Grieg NL Seafarms told CBC News Thursday that an equity share in the $230-million project will be a “safe” investment for the province. “This is an excellent investment which will grow and pay the province back tenfold in both taxation and employment,” said Greig’s Perry Power.When asked if the project’s sanctioning hinges on an infusion of government money, Power said “my understanding has always been, in the position that I’m in, that the province’s involvement is absolutely necessary.” Grieg wants to construct the world’s largest salmon hatchery in Marystown, and create 11 “escape-proof” cage sites in Placentia Bay. Read the rest here 13:04