April 1, 2004

Thailand To Invest 2.5 Billion Baht In Deep Sea Fishing Project

Thailand will be looking to invest around Bt2.5 billion in a deep sea fishing project following several months of feasibility studies, Agriculture Minister Somsak Thepsuthin said.

The Ministry of Agriculture and Agricultural Cooperatives will look to private sector fisheries companies, processing plants interested in dealing with deep sea fish, and shallow water fishing companies to invest with the government in deep sea operations.

Thailand currently imports 400,000 tonnes of deep sea tuna each year for its processing plants, while reaping another 100,000 tonnes from its own deep sea fishing operations.