The investment includes new land, a transformation of the current factory layout, upgrade of existing pelletising equipment, and four new lines for extruded feed, BioMar said in a press release.
The project is part of preparation for introduction of new advanced shrimp feed concepts planned for launch in the market from 2022.
“We are planning for a new range of high performing products as well as new functional feeds targeting the unique farming practice and environmental parameters encountered in Ecuador,” said Henrik Aarestrup, vice-president Latin America shrimp and hatchery in BioMar Group.
“Furthermore, we see larger farmers in the market being ready to start up the process of co-designing tailored product ranges towards the markets in US and Europe, focusing on both feed composition and environmental footprint, farming practice and quality of the resulting shrimp, enabling a targeted positioning of the shrimp towards retailers and end consumers. This requires both more capacity but also more flexibility in our production set-up.”
The Ecuadorian shrimp export industry has undergone a transformation and diversification during the Covid-19 pandemic, said BioMar.
“We believe the Ecuadorian shrimp sector is increasingly well positioned to continue to grow in the years to come, focusing on value added products for consumers and sustainability,” explained Aarestrup.
“We are sure that a combination of extruded and pelletised feed solutions combined with increased flexibility on feed ingredients will offer the right opportunities for optimal feeding practices within different farming environments in Ecuador.”
The expansion will take place in two phases with the first two lines ready for launch in 2022.