August 16, 2013
Honduras' Aquafinca invests US$11.5 million to produce fish feed

Aquafinca Saint Peter Fish SA invested HNL240 million (US$11.5 million) in a new plant for the production of concentrates for breeding and fattening tilapia and shrimp.

"This great project brings about a very important competitive factor for our company Aquafeed, allowing us to further consolidate our market," said general manager of Aquafinca, Orlando Delgado, at the opening ceremony of the factory.

"This production unit will generate about 100 direct jobs and 600 indirect ones and the goal is to produce 50,000 tonnes of concentrate for tilapia and 36,000 tonnes of concentrate for shrimp," he added.

The entrepreneur stressed that with the opening of this new company "an important message is sent to the world stating that in Honduras it is possible to make investments."

The head of the Ministry of Agriculture and Livestock (SAG), Jacobo Regalado, who was also present at the ceremony, expressed the Government's satisfaction with the momentum to develop the country's agribusiness sector.

The huge investment performed by Aquafinca will create new jobs and will help integrate "a fish and shrimp industry, which will supply concentrated feed at local and regional level," he added.

Meanwhile, the entrepreneur and former president of Honduras, Ricardo Maduro, said that with this new company, which is capable of producing 100,000 tonnes of concentrated feed per year, there will be more control in the domestic market.

Currently, Aquafinca helps to keep Honduras in the first place in fresh fillet exports to the US market.

During 2013, 18 million pounds of fresh tilapia fillets were exported for US$60 million. This activity creates about 1,600 direct jobs and about 7,000 indirect ones.

Aquafinca is a Honduran company having Swiss capital and international operations, dedicated to breeding, fattening, processing, and marketing fresh tilapia fillets to the US market.
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