BANDAR SERI BEGAWAN
The Ministry of Primary Resources and Tourism (MPRT) recently signed two agreements which granted a license for Singapore-based firm Barramundi Asia to develop two aquaculture sites in the country.
With the documents sealed, Barramundi Asia via will proceed to developing 6,613 hectares spot at Nankivell Offshore Aquaculture Site and an area of 25.1 hectare at Lot 6054 Kg Meragang.
The firm will be investing $18 million in phase one for the culture of barramundi or seabass in offshore cages, and will be adopting the advanced technologies and sustainable aquaculture husbandry and farming practices in Europe.
At the conclusion of the first stage, the project is expected to produce 4,000 metric tonnes of seabass by 2024.
The farm will then increase its production progressively towards 36,000 metric tonnes by the year 2032, with its biomass worth over $324 million once the company started running at its maximum operational capacity.
MPRT’s Permanent Secretary Pg Hj Kamarulzaman Pg Hj Mohd Ishak in his welcoming remark said the project will be economically and socially beneficial for both Brunei and Singapore.
“From Brunei Darussalam’s perspective, this project will receive a substantive foreign direct investment into the aquaculture industry and will boost the country’s total fisheries production significantly by 2032,” he said.
“This project will also create about 100 jobs for locals and will increase contribution of fisheries export to the economy as well as creating many spin-off businesses in Brunei, for example in the logistics and services sectors,” he added.
Signing on behalf of MPRT was the Acting Director of Fisheries Mariani Hj Sabtu, while Barramundi Asia (B) was represented by its General Manager Eva Lim.
The agreements were signed at the presence of MRT Minister Yang Berhormat Dato Seri Setia Hj Ali Apong, Head of Aquaculture Industry Development Division at Department of Fisheries Hj Rosinah Hj Yussof and Barramundi Asia’s Chief Financial Officer Liew Kou Yew.