Thai firm to invest $49M in prawn farm

THAILAND - A Thai agrobusiness conglomerate, the Charoen Pokphand group, plans to invest some 49 million dollars in an integrated prawn farm in Bacolod city.

Charoen's investment is part of the group's plan to expand its production bases and serve more markets abroad, according to trade undersecretary Elmer C. Hernandez.

Hernandez, who is also managing head of the Board of Investments, said in an interview that the Thai firm's planned venture included growing prawns and processing them for export, as well as production of prawn-based animal feeds.

He said Charoen Pokphand was going into a partnership with local businesses, including the Bacolod-based Sta. Clara Estate Inc., which operates a private commercial laboratory for feed, soil, and water analysis.

The official said the project would be put up on Negros Island--the center of the local prawn culture and export industry.

The output is meant primarily for the Southeast Asian market, but shipments would also be sent to other destinations.

Hernandez said the project was qualified for investment incentives as prawn farming and feedmill production were listed in the Investment Priorities Plan.

To continue reading this article please click here

Source: money.inq7.net

© 5M Enterprises Ltd.
2000 - 2007
No part of this site may be
reproduced without permission

5M Enterprises Ltd., 4 Haywood House, Hydra Business Park, Nether Lane, Sheffield, S35 9ZX, England.

Co. Registration 3332321 - A Benchmark Holdings Ltd. Company