Ayeyawady catfish farming project to earn $150 m yearly
A catfish farming project located on 900 acres of land in Pantanaw Township, Ayeyawady Region, will be implanted with a starting capital of K200 billion and the project is expected to earn US$150 million a year, said Htay Myint, president of Myanmar Fisheries Federation.
“We have started a trail-run on 900-acre land. We have planned to make an initial investment of K200 billion. We will breed 150,000 fingerlings to earn US$150 million a year in export. We have so far collected about 60 percent of the fingerlings. We will try to compete with the international community,” he said.
The project is being implemented by global Earth Public Co Ltd established by Myanmar Fisheries Federation. Now, fish farms and buildings are being set up.
“We have to take eight more months to complete all our facilities such as factories and fish farms. They will be completed this year I think. But we could make our products next year. We will also arrange market promotion,” said Toe Nanda Tin, vice president of the federation.
The project includes a hatchery, fish farms, feed factory, cold storage factory and staffing housing. Global Earth Public Co Ltd will invite shareholders when the project comes into shape.