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Brunei Offshore Cage Culture To Take Off With Joint Venture

by 5m Editor
12 November 2009, at 12:00am

BRUNEI - A Joint venture between local and Chinese investors from Guangdong, People's Republic of China yesterday has paved the way for the implementation of $l.45 million offshore cage culture project that is expected to produce about 400 metric tons of grouper and cobia per year in two years.

The signing ceremony for the joint venture on Deep Sea Net Cages Culture between Farzhenza Enterprise and Raoping Jinhang Deep Sea Cage Development Co Ltd took place after the conclusion of the 31st AMAF meeting at The Empire Hotel and Country Club reports Brudirect.com.

Signing on behalf of the local company was Pengiran Hj Ibrahim bin Pg Muda Haji Hashim, while signing for Raoping Jinhang Deep Sea Cage Development Co Ltd was Mr Zheng Zheng Zao, Division Director of Guangdong Ocean and Fisheries Administration.

The company from China has wide experience and expertise in offshore cage culture, processing and marketing. The company has been involved in marine aquaculture since 1989, operating 40 cages at Raoping Zhelin Bay, Shantao Guangdong province. The company will provide the technical know-how to the Bruneian firm for the venture.

The joint venture company will invest a total of $l.45 million for the implementation of the offshore cage culture project. The company intends to market the live fishes from Brunei to the surrounding regions such as China, Hong Kong and Taiwan.

By opening up the export market, it is hoped that more Bruneians would be encouraged to invest in offshore cage culture, which could be exported worldwide through the joint venture and not just limited to the local market.

5m Editor