Tilapia harvest. (Photo: Stock File)
Chinese firm to invest USD 100 million in aquaculture projects
Saturday, April 14, 2018, 02:30 (GMT + 9)
Chinese-owned Jin Yu Tang Aquaculture is planning to invest USD 100 million in freshwater and seawater aquaculture projects in Preah Sihanouk and Koh Kong provinces to meet the local and international demand.
The company representatives announced at a meeting with Minister of Agriculture Veng Sakhon that they intend to invest in aquaculture projects in Koh Kong’s Sre Ambel district, which will spread over an area of 240 hectares, Khmer Times reported.
Likewise, deep-sea breeding and hatching projects are planned for Si-hanouville’s Koh Rong Samloem island, which will cover 2,000 hectares.
“The projects focus on the supply, distribution, research and development of aquaculture technology in Cambodia in line with international standards,” Minister Sakhon said, adding that 430 new jobs will be generated.
The company is now in the process of registering with the Ministry of Commerce and is due to submit a master plan for its investment to the Council for the Development of Cambodia in upcoming months.
For his part, Kang Khim, deputy director at the fisheries administration, said the planned investment will increase fish yields and help meet local demand for fish.
With river and sea fish catches on the rise, revenue in Cambodia’s fishing sector reached USD 750,000 last year, an increase of USD 150,000 compared to 2016. However, the sector experienced a drop in exports of fresh fish and processed fish products.
According to an annual report from the Ministry of Agriculture, 16,625 tonnes of fish were caught in Cambodian rivers last year, while 121,025 tonnes were fished at sea.