August 24, 2010

Rongfu to manage co-op aquaculture park in Guangdong

Rongfu Aquaculture Inc announced Monday (Aug 23) that the local government has designated it to operate the 3,300-acre Qingqi fish farming park, which will be the first stage of Rongfu's "company and farmers" co-op model.

Located in Shanshui, Guangdong province, the RMB150-million (US$22-million) Qingqi aquaculture park will be built into a modern aquaculture production base, where the government will construct ponds for fish farming, upgrade water conservation, construct roads, and install utilities. The land will then be leased to the farmers for aquaculture.

Rongfu has been granted a 30-year exclusive contract to manage the project. It will provide the farmers with fish fry, feed, medicine, and training. It will also be able to purchase the fish produced in the park and distribute them through its extensive distribution network. Rongfu will also be entitled to receive special subsidies and other preferential treatment from the local government.

"We are very excited to implement the first step in our 'company and farmers co-op model'," said Rongfu's Chairman Chen Zhisheng. "The government in Guangdong has large tracks of land and wants to encourage fish farming. The co-op model allows the farmers to grow and harvest the fish, while we provide the fry, feed, technology, and training."

The company also planned to launch a 'Fish Fry Mall' within the park to create a platform for matching fish fry providers with fish farmers, Chen added.

Headquartered in Fushan, Guangdong province, Rongfu Aquaculture Inc is in the business of cultivating, harvesting, and trading of tilapia, snakefish, and other freshwater aquatic products in China. The company operates 13 adult fish breeding farms, three of them are located in Hainan province, and the other 10 in Guangdong province.