For more than a decade, the company has been trying to develop the world's largest prawn farm on a remote NT cattle station.Liquidators from KordaMentha have been appointed to wind up Project Sea Dragon with the company to pay legal costs to Canstruct.The company behind a $1.5 billion plan to build the world's largest prawn farm on a remote Northern Territory cattle station will be liquidated following a failed appeal in the Federal Court.
Shire of Wyndham East Kimberley president David Menzel did not anticipate money from Project Sea Dragon's liquidation would make it back to local contractors. Located on the NT/WA border, north-east of Kununurra, the grow-out facility was supposed to produce 100,000 tonnes of tiger prawns per year., which in March 2022 found it was "not viable in its current form" and involved "unacceptable" risks due to its remoteness, biosecurity threats, and environmental conditions.
The federal government contributed $63 million to road infrastructure, the NT government $56 million, and the WA government $15 million.Following the Federal Court ruling, shire president David Menzel hoped the negative outcome of the ambitious prawn farm would not discourage further investment in the region.