Philippine province set to build new US$21.9 million aquaculture farm

A new aquaculture farm worth PHP1 billion (US$21.9 million) is set to be established in Pilar in the province of Bataan, central Luzon, Philippines, according to a top local official.

Deputy Mayor, Pablo E. Nohay did not disclose the private investor as preparation and completion of the paperwork for the huge business venture are still pending.

Nohay said the company will put up a five-storey building where the investor would hold office for its operation, among others.

Under the initial plan, he said the company will export its fish products to various neighbouring countries, noting that this will certainly generate not only income for the town but also thousands of new employment.

In addition, the management of Jatropha is also planning to invest more as part of its expansion programme after its initial planting of the Jatropha for biodiesel has become successful in Barangay Liyan, this town, according to reports.

In Barangay Alauli, village chief Edgardo Lulu said that aside from the existing companies in his barangay, a number of private investors had also expressed keen interest in putting up their investments in his barangay due to the prevailing peace and order, its strategic location and is the center going to Mariveles where the Freeport Area of Bataan will soon be set up.