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Seafood on the Menu for Conglomerate's Expansion
PENANG - Conglomerate Texchem Resources is ploughing RM40mil into a seafood processing facility and fishing operations in Tanjung Manis, Sarawak.The development is part of the company's expansion of its food and family care divisions.
A report in the Star OnLine says plans include a 10-hectare aquaculture project in Langkawi to farm grouper, sea bass and tilapia. The fish will supply the export market and also the raw ingredients for the company's seafood processing subsidiaries. Seven more Sushi King outlets are also planned.
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| Tan Sri Fumihiko Konishi, Texchem chairman and CEO |
The fishery and seafood project is a joint venture with the Sarawak State Economic Development Corporation. Texchem will hold a 51 per cent stake. The group was invited by the state government to invest in Tanjung Manis, which had already received over RM300mil in investments in essential port facilities.
“We have secured a four-acre site for the seafood processing facility and the licences to operate five fishing trawlers in Sarawak,” said chairman and chief executive officer Tan Sri Fumihiko Konishi.
To read the full story click here.
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