Photo: The Star

Minister for Agriculture and Regional Development Jaala Pulford today announced a $144,000 Food Source Victoria grant for Southern Ocean Mariculture to take part in a Commonwealth Scientific and Industrial Research Organisation (CSIRO) pilot project.

Southern Ocean Mariculture is a land-based abalone producer that began operation in 1996. The company will work with Portland based Southern Canning, CSIRO and Fisheries Research Development Corporation on the project.

The pilot will produce nutraceutical products made from an extract from abalone processing waste.

If the trial is successful, Southern Ocean Mariculture and Southern Canning plan to invest in a joint-venture bi-products processing plant in Portland, creating up to 15 jobs.

The new processing plant would have the potential to generate significant export revenue and help to diversify Portland’s economy.

The Labor Government’s Food Source Victoria program support producers and businesses working in partnership to develop products that take the state’s superb produce to the next level, creating new jobs and growing exports.