Maori fishing company Sealord has taken a one third share in a new $23 million mussel processing plant in Tauranga.
The factory features New Zealand-designed automated mussel-opening machines and is predicted to triple the country's mussel export capacity.
Aquaculture New Zealand chairman Peter Vitasovich told Waatea News the joint venture with his company Greenshell New Zealand and listed company Sanfords is an indication of the importance of Maori to the sector.
He says iwi now own about 40% of the aquaculture industry and this share is likely to grow with possible settlements under the aquaculture settlement legislation.