Brunei

Singaporean firm to invest in an aquaculture project in Brunei

Fish & Seafood

More than $220 million will be necessary to develop a barramundi farm on 6,613 hectares of water in Nankivell, Brunei.

Posted on May 15 ,10:24

Singaporean firm to invest in an aquaculture project in Brunei

Barramundi Asia, a Singaporean fishing farming company, is planning to invest $228.8 million in an Asian sea bass (barramundi) farm developed in Brunei, reports FIS.com.
The farm will be built on 6,613 hectares at Nankivel Offshore Aquaculture Site with an additional surface of 21 hectares dedicated for the land-based operations that comprise a hatchery and a fish nursery.
The firm has signed a deal with the Department of Fisheries, Ministry of Primary Resources and Tourism (MPRT) of Brunei and the project is to become operational in 2021. "“When in full operation by 2021, the project is expected to produce 40,000 metric tonnes of barramundi fish valued at BND300 million ($223 million) per year which will be exported to Singapore, Australia and Europe”, pointed out the Minister of Primary Resources and Tourism, Dato Seri Setia Awang Haji Ali bin Haji Apong.
Barramundi Asia intends to grow the sea bass in offshore cages using the technology that has been adopted in Norway for salmon farming. According to the Managing Director of the company, Joep Staarman, the first culture of fish will be imported as juveniles from Australia and it will take three years to grow to four kilogrammes.

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