January 10, 2019

Vietnam's largest pangasius farm project kicks off

Nam Việt Joint Stock Company (Navico) has started Nam Việt Bình Phú high-tech aquaculture project, considered the country's largest-ever tra fish farming project, in An Giang Province's Châu Phú District.

The project is developed by Navico's Nam Việt Bình Phú Seafood Co, Ltd, on an area of 600 hectares, and will represent a total investment of VND4 trillion (US$171.9 million) in the district's Bình Phú Commune, VNS reported.

One area of the project will be devoted to high-quality fingerlings of tra fish. It will demand an investment of VND1 trillion (US$ 43 million) and an annual capacity of 360 million units for the local market.

Another area will use high-tech applications to rear commercial tra fish, with an investment of VND3 trillion (US$ 129 million) and an annual capacity of 200,000 tonnes for export processing.

Navico said one of the project's aims is to complete a sustainable value chain. The company will have its own supply to meet export processing demand and improve fingerling production.

Navico chairman, Đoàn Tới, said the company's total export value is expected to double to between US$250-300 million, including US$150 million contributed by the Bình Phú project when it comes into operation.

Vietnam's domestic tra fish industry has suffered fingerling shortages, leading to a lack of raw material for export processing. This has resulted in an increase of tra fish prices by 66% over the past three years.

Source: www.fis.com