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Indian Firms To Set Up $12 Million Fish Investments In Uganda

by the Fish Site Editor
24 October 2006, at 1:00am

UGANDA - Plans are underway for two Indian companies to set up multi - million dollar investments in Uganda's fisheries sector.



The State Minister for Fisheries, Fred Mukisa told a press briefing on Friday that the government has already identified land where the investors would establish their factories.
He identified the investors as Ms Mashuli Gashmani India Limited, which intends to spend $8 million to set up a commercial prawn fish farm and Angelique that intends to set up a $4 million (Shs7.3 b) turnkey aquaculture enterprise.

"These investments that are taking off early next year will be peasant based. On top of producing their own fish and seafood, the investors will buy fish from small holder commercial farmers and process it for export," Mukisa said.
Prawns are a popular seafood that can be raised in fresh waters. On the world market, a kilo of prawn goes at $15 (Shs27, 450).

The prawn fish farm, according to Mukisa, will be a joint venture between the Indian investor and and a Ugandan fish exporter.


Source: AND Network

the Fish Site Editor