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US land-based shrimp farmer gets OK to build 67-acre complex

Company now seeking financing for next phase of its operation.

Land-based shrimp producer Tru Shrimp Company, an affiliate of Ralco, said Thursday the company's board of directors approved the continued development of its Luverne Bay Harbor Complex in Minnesota.

The board directed management to finalize all engineering and construction plans for the site and begin to execute a plan to finance construction and start-up of the 67-acre complex, which will house a hatchery, a free-standing shared water treatment facility and the shrimp production facility.

Tru Shrimp breaks ground on new shrimp facility

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The US-based company said it wants to have financing arranged by June 2019, with plans to break ground in Luverne shortly thereafter. Construction of the entire Harbor complex will take approximately two years to complete, with one half of the harbor in production as the second half is still being constructed.

“This is a watershed moment for Tru Shrimp,” said Michael Ziebell, CEO of trū Shrimp. “This year, Balaton Bay Reef was built and shrimp are now stocked and growing in the pristine habitat of our indoor tidal basins.”

Balaton Cove Hatchery has also come on line, Ziebell said.

“The first broodstock shrimp have arrived from our genetics partner Oceanic Institute and they are mating, spawning, and offspring are growing in our created seawater. The partnership with Oceanic Institute and the development of our Hatchery mark the final steps of a truly integrated shrimp company.”

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