February 18, 2004

Chile's South Pacific To Invest In New Fishmeal Processing Plant

South Pacific Corp, the Chilean fishing company which is owned by the Angelini group, will invest US$17.9 million in a new fishmeal and fish oil processing plant in Corral.

The new plant will have a capacity to process 50 m tons of horse mackerel, anchovy and sardines per hour. It will process 64,000 m tons of fish and produce 12,160 m tons of fishmeal and 8,420 m tons of fish oil in the first year in operation.

The company currently produces 64,575 m tons of fishmeal and 8,420 m tons of fish oil. It sells about 45% of its fishmeal output in the domestic market and exports the rest to countries such as China (18.8%), Taiwan (15.4%) and Japan (9.6%). Its fish oil production supplies the domestic market.