China To Invest RM809 mln In Aquaculture

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China to invest RM809 mln in aquaculture

KUCHING (September 26): China wants to invest RM809 million in aquaculture project at Tanjung Manis.

The investment will potentially create about 1,500 employment opportunities and generate business opportunities for the locals, said Deputy Chief Minister Datuk Amar Awang Tengah Ali Hassan in China.

Figure 1: Awang Tengah (sixth left) witnesses the exchange of signed MoU between Hashim (fourth right) and Chen Xiao Min (fifth left).

“There will also be a need for support services including participation in contract farming for the local community,” he said.

Pusaka Capital Sdn Bhd and TM Agro Holdings Sdn Bhd yesterday entered into a Memorandum of Agreement (MoA) with Sun Valley Holdings Sdn Bhd at Crown Plaza Fuzhou Riverside in China towards this purpose.

The MoA will see a large scale aquaculture project to be set up in Tanjung Manis Economic
Growth Area (T-Mega) and 2,300 hectares of land have been identified suitable for aquaculture activity.

For this MoA, phase one will involve about 440ha to be developed immediately while the rest will be developed under phase two and three.

A Memorandum of Understanding (MoU) was also signed between KTS Resources Sdn Bhd and Fujian Dade Group for a deep sea fishing project.

“An estimated RM809 million will be invested upon full completion of this project, which will include shrimp breeding and processing facility, a research centre and promotional activities,” said Awang Tengah, who was present to witness the signing of the MoA and MoU.

Awang Tengah, who is also Minister of Industrial and Entrepreneur Development and Second Minister of Urban Development and Natural Resources, added that since the establishment of T-Mega, the Sarawak government had invested about RM3.14 billion for facilities such as sea port, water and electricity, commercial area, upcoming 16-storey office complex, river transportation terminal, housing and accommodation.

“We hope that the ceremony today (Sept 25) will bring in more business ventures not only from Fujian Dade Group in the longer run but will also draw other potential investors from China as well,” he said.

Pusaka Capital executive director cum Sarawak Timber Industry Development Corporation (STIDC) acting general manager Hashim Bojet, Fujian Dade Group chairman cum Sun Valley director Mike Chen Xiao Min and KTS Group of Companies managing director Dato Henry Lau were among those present at the MoA signing ceremony.

Tanjung Manis was originally developed as a timber processing zone in 1990 to cater for timber industry in Rajang River Basin in central Sarawak.

After the world economic downturn in 1998, Tanjung Manis development diversified to cater for deep sea fishing industry where the Marine Fishery Department of Malaysia constructed an integrated deep sea fishery port.

Due to increasing demand for shipbuilding and considering that Tanjung Manis has a natural deep sea port, shipbuilding industry was introduced in 2008. Currently two global players are already in operation while few more are in the process of developing the facilities.

In 2009, the Sarawak government introduced halal-based industry with an objective of making Tanjung Manis as the largest food production hub. Total area designated for this halal zone is about 35,000 hectares out of 124,000 hectares allocated for focus industries in T-Mega.

Investment in this area will enjoy Halal Park Designation Status (Halmas) with certain incentives and halal certification support services.

Palm Oil Industry Cluster (POIC) is another strategic economic activity promoted in T-Mega. This POIC will serve the export and processing of crude palm oil (CPO) for the central region, which currently has more than 400,000ha planted with the crop.

The CPO bulking terminal has been in operation since 2017 and a CPO refinery is being planned as a catalyst for downstream CPO based by-products.

As T-Mega is strategically located within Malaysia and the Asean region, the Sarawak government is re-positioning it as a new economic hub of the central region of Sarawak with mixed industrial development in several targeted industries.

[Source: “China to invest RM809 mln in aquaculture” published by BorneoPost Online]

Photo Credits: BorneoPost Online

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