AquaGen to invest in Chilean salmon egg plant

Norwegian fish breeding company AquaGen will invest US$12 million in a salmon eggs production plant in Ayacara in the 10th Region of Chile.

The company sees investing opportunities despite the current crisis in Chile's salmon industry.

AquaGen expects to see new facilities built in Chile and the possible expansion of the current plant over the next 10 years.

AquaGen sold 280 million eggs in 2007, and was a leading breeding supplier with a 28 percent market share in Chile, all prior to the ISA crisis in the country.

AquaGen now expects a production of about 60-100 million eggs this year because of reduced salmon seedtimes.