Cargill has announced the formation of a joint venture with Naturisa to build a US$30 million shrimp feed facility near Guayaquil, Ecuador.

The joint venture involves the construction of a new world-class shrimp feed mill that will produce 130,000 tonnes annually. When fully operational in 2017, the facility will employ 260 people.

Cargill will own 75% of the joint venture and possess managerial control of day-to-day operations, while Naturisa retains 25%. Furthermore, the investment is a boost to Cargill's efforts to expand its aquaculture foothold in Ecuador. It will also open the door to future investment opportunities for other commodities in the market.

Through its Americas Marketing Group, Cargill has imported agricultural commodities into Ecuador for several years. Naturisa is Ecuador's second largest shrimp producer and the fourth largest exporter in the country.

"This joint venture with Naturisa positions us to become one of the largest producers of shrimp feed in South America," said Sarena Lin, the president of Cargill's animal feed and nutrition business. "It creates new opportunities for both organisations' customers and stakeholders. Combining Cargill's vast resources and global reach with Naturisa's expertise will allow the new organization to provide the best solutions to our customers and ultimately support the growth of Ecuador."

Equipped with the latest feed safety technology and product quality capabilities, the new state-of-the-art facility will help Cargill in fulfilling growth plans through increased production capacity and flexibility in product manufacturing, formulation, packaging and logistics for competitive offerings in Ecuador and Peru.

The facility will produce and market shrimp feed under the Purina® brand throughout South America.