RM1.6 Bln Aquaculture Industrial Zone Projects Nationwide By June

He said the high-impact projects were aimed at increasing the production of marine products from 300,000 tonnes annually now to 660,000 tonnes in 2010.

Muhyiddin said the projects, which had the strong backing of Prime Minister Datuk Seri Abdullah Ahmad Badawi, were also aimed at providing employment opportunities and establishing a downstream industry in the sector.

"For that purpose, we have appointed a consultant company to prepare a prospectus in two weeks to, among other things, emphasise the potential and viability of the projects," he told reporters after chairing a meeting of the Pagoh Parliamentary Constituency Agriculture Development Committee in Pagoh here.

Muhyiddin said the projects would include the breeding of prawns, fish, and molluscs.

Muhyiddin said the ministry had directed Bank Pertanian to lead manage RM1 billion in funds from commercial banks as a facility for the private sector companies, from within and outside the country, that would participate in the projects.

The ministry had spent RM243 million to provide infrastructure facilities such as water and electricity supply and roads to the aquaculture zones, he said.

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Source: Bernama

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