March 15, 2007

Hong Kong's Coland Group builds aquatic-base in China's Wuhan

Hongkong's Coland Group finalised plans for the building of Wuhan Gaolong Technical Industrial Park last week in Wuhan city in Hubei province last week.

The 150 mu (1 mu = 0.067 hectare) park would be the largest aquatic-base in Wuhan and would consist of two sub-zones. The park would be processing 20, 000 tonnes of fishes and crayfish annually and producing 80,000 tonnes of hi-quality aquatic feed.

The US$8 million investment would create 6,000 jobs and targets annual revenue of RMB 1.16 billion (US$149.8 million) within the next three years.

Hongkong's Coland Group now specializes in the import, processing and distribution of fishmeal, fish oil and aqua-feed products. It is among China's top hundred feed companies with annual revenue exceeding RMB 1.5 billion (US$187.5 million) 

It was mainly a fishmeal importer in Hong Kong until recent years, when Chinese feed buyers began buying direct from producing countries Chile and Peru.

The completion of the industrial park would enable the company to supply feed distributors upstream as well as feed users downstream. Most of the company's fish fillets and shrimps would be slated for export.