The mandate is negotiated and agreed before the engagement is initiated to ensure that there is clarity on responsibilities, deliverables, timelines and costs. The mandate will be based on engineering principals and will cover all or some of the following:
- Project scope definition
- Market
- Site/location
- Feed mill (optional)
- Hatchery (optional)
- Aquaculture farm
- Processing & cold storage
- Infrastructure
- Legal & environmental
- Project schedule
- Cost estimation
- Project risk assessment
- Financial modelling and evaluation
Each client mandate will clearly define the responsibilities of the parties and the nature of the engagement – from undertaking an initial Class 5 Conceptual Study (which can often be completed on a desktop basis) through to the Bankable Feasibility Study which requires in depth investigation of each of the success factors and how these are dealt by the operator. A pilot plant may well be required in order to confirm the reasonableness of the assumptions used in both the engineering and financial modelling.
Stages in the project development process include the following, with an “approval to proceed” following the completion of each stage.
Rydawi Aquaculture Services can be retained to complete any one or more of the following stages:
| Classification Reference |
Class 0 |
Class 1 |
Class 2 |
Class 3 |
| Conceptual |
Pre-feasibility |
Bankable Feasibility |
Control |
| Purpose of Study |
- Idea generation
- Strategic fit with business plan
- Technical alternatives
- Approval to proceed
|
- Determine project viability
- Identify, optimising and trading off options
- Approval to proceed
|
- Increase accuracy of selected option
- Feasibility and/or funding
- Approval to proceed
|
- Detailed engineering phase
- Funding approval secured, basis of control & budget determined
|