Brunei’s aquaculture sector gets another boost

Brunei’s Aquaculture Sector Gets Another Boost

A new fisheries project will be helping Brunei to both further diversify its economy and improve its food security. With co-investment from Singapore, a new salmon farm using the latest technology will be built in the small country at the northern coast of Borneo.

Singapore-based private equity fund management 8F Asset Management plans to build the farm for Atlantic salmon with an expected output of 10,000 metric tonnes a year. The facility, which will deploy an innovative recirculating aquaculture system, will be operated by Pure Salmon, which is the global operating company for 8F’s investments.

A respective memorandum of understanding has been signed by the Strategic Development Capital Fund under Brunei’s Ministry of Finance and Economy with 8F.

The project is expected to generate 145 jobs once operational. Additionally, the facility will supply salmon products, such as fillets and smoked salmon, domestically and regionally.

“Brunei is leading by example – it is not only forward-looking but also ahead of other countries in the region when it comes to innovation and sustainable food production,” 8F CEO Karim Ghannam said, adding that the project is expected to serve as a model for other countries to follow.

Second aquaculture project this year

The salmon project follows another investment in aquaculture back in May this year when Singapore-based Barramundi Asia, one of the largest companies in the world farming seabass, signed an agreement to set up an offshore aquaculture site spanning over more than 6,600 hectares at an investment of B$300 million.

Barramundi Asia will be developing more than 6,600 hectares at Nankivell Offshore Aquaculture Site and an area of 25 hectares located in Kampung Meragang for high-quality hatchery and fish nursery for the production of seabass juveniles to be supplied to offshore fish cages. This will enable Brunei to sustainably cultivate the whole seabass life-cycle locally.

The company expects an output of 2,700 metric tonnes next year which will be increased to 4,000 metric tonnes by 2024. The fish farm will create 100 jobs for locals.

“Brunei was chosen as the site for the project because of its pristine tropical water and good current flow. The Brunei government have been very supportive of this initiative,” Barramundi Asia executive director Andrew Kwan said at the signing.

A new fisheries project will be helping Brunei to both further diversify its economy and improve its food security. With co-investment from Singapore, a new salmon farm using the latest technology will be built in the small country at the northern coast of Borneo. Singapore-based private equity fund management 8F Asset Management plans to build the farm for Atlantic salmon with an expected output of 10,000 metric tonnes a year. The facility, which will deploy an innovative recirculating aquaculture system, will be operated by Pure Salmon, which is the global operating company for 8F’s investments. A respective memorandum of understanding...

Brunei’s Aquaculture Sector Gets Another Boost

A new fisheries project will be helping Brunei to both further diversify its economy and improve its food security. With co-investment from Singapore, a new salmon farm using the latest technology will be built in the small country at the northern coast of Borneo.

Singapore-based private equity fund management 8F Asset Management plans to build the farm for Atlantic salmon with an expected output of 10,000 metric tonnes a year. The facility, which will deploy an innovative recirculating aquaculture system, will be operated by Pure Salmon, which is the global operating company for 8F’s investments.

A respective memorandum of understanding has been signed by the Strategic Development Capital Fund under Brunei’s Ministry of Finance and Economy with 8F.

The project is expected to generate 145 jobs once operational. Additionally, the facility will supply salmon products, such as fillets and smoked salmon, domestically and regionally.

“Brunei is leading by example – it is not only forward-looking but also ahead of other countries in the region when it comes to innovation and sustainable food production,” 8F CEO Karim Ghannam said, adding that the project is expected to serve as a model for other countries to follow.

Second aquaculture project this year

The salmon project follows another investment in aquaculture back in May this year when Singapore-based Barramundi Asia, one of the largest companies in the world farming seabass, signed an agreement to set up an offshore aquaculture site spanning over more than 6,600 hectares at an investment of B$300 million.

Barramundi Asia will be developing more than 6,600 hectares at Nankivell Offshore Aquaculture Site and an area of 25 hectares located in Kampung Meragang for high-quality hatchery and fish nursery for the production of seabass juveniles to be supplied to offshore fish cages. This will enable Brunei to sustainably cultivate the whole seabass life-cycle locally.

The company expects an output of 2,700 metric tonnes next year which will be increased to 4,000 metric tonnes by 2024. The fish farm will create 100 jobs for locals.

“Brunei was chosen as the site for the project because of its pristine tropical water and good current flow. The Brunei government have been very supportive of this initiative,” Barramundi Asia executive director Andrew Kwan said at the signing.

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