Manitoba issues loan to biz for Arctic char facility

Article content

The Manitoba government is loaning support for the development of an Arctic char aquaculture and fish processing facility in the Rural Municipality of Rockwood, just north of Winnipeg.

Article content

The $145-million project, led by Sapphire Springs Inc., is expected to create over 100 full-time jobs and contribute to the provincial economy, Economic Development, Investment, Trade and Natural Resources Minister Jamie Moses and Agriculture Minister Ron Kostyshyn announced Tuesday.

To support the project, the Manitoba government is issuing a repayable loan of up to $10.75 million to Sapphire Springs Inc.

Moses highlighted the government’s commitment to job creation and economic growth, emphasizing that the facility will expand opportunities in Manitoba while producing sustainable food. The facility, located at the former site of the Department of Fisheries and Oceans’ Rockwood Experimental Fish Hatchery, will be Canada’s largest Arctic char facility and aims to position Manitoba as a leader in the industry.

Article content

Ken Blair, CEO of Sapphire Springs Inc., expressed gratitude for the province’s support and outlined the company’s goal of becoming a leader in sustainable aquaculture. He emphasized the project’s role in supporting the local economy and meeting the rising demand for healthy, sustainable protein sources.

The facility is anticipated to create up to 104 new full-time jobs, along with 120 indirect jobs.

Kostyshyn said that the government’s investment aligns with its focus on innovative and sustainable projects that drive economic growth and rural development.

Scheduled to open in 2026, the facility is expected to produce 5,000 metric tonnes of Arctic char annually, potentially increasing the global supply by up to 50%.

Share this article in your social network

Source