Australian seafood producer Australis Aquaculture has stocked 230,000 barramundi fingerlings in the Van Phong Economic Zone in central Vietnam.

The Perth-based company aims to produce 10,000 tonnes of barramundi per year in Vietnam within five to seven years, with hopes of making a six-fold revenue increase within three years.

The company will stock more batches of fingerlings regularly to exceed one million fish within a year.

The Vietnam operation will run in conjunction with the company's US production hub outside of Boston, allowing it to quickly increase availability of fresh and frozen barramundi to its growing sales channels, according to managing director Josh Goldman.

Australis received a Vietnamese investment license last month that allows the company to use 200 hectares over 25 years.

Australis incurred a net loss of AU$1.71 million (US$1.64 million) in the first-half of 2008, as it directed resources to building its fish stocks in the US and had exchange losses due to the strong Australian currency and weak US dollar.