Malaysian firm to operate US$63 million shrimp farm

Malaysia's PJ Blue Archipelago Bhd will operate a MYR150 million (US$62.6 million) shrimp processing farm in Terengganu, starting June 2010.

The company will emerge as a direct seller of shrimp once the 1,000 hectare farm begins operations, said CEO Dr Shahridan Faiez.

He said the farm is expected to contribute MYR100 million (US$28.4 million) of revenue to the company's bottom line between three to four years.

PJ Blue Archipelago Bhd, a subsidiary of Khazanah Nasional Bhd involved in the shrimp aquaculture industry, operates a shrimp farm in Kerpan, Kedah. The Kerpan farm currently sells fresh shrimps to third party processors.

Faiez said the company exports 60,000 tonnes of shrimps per year, but they would be able to produce at least 15,000 tonnes of white-leg shrimp for the global market with the combined harvest of both farms.

When the farm is fully operational, it would be Malaysia's first integrated aquaculture industrial park, he said.

Faiez is confident that he has secured a viable project and that high quality, ethical and value-driven partners will be attracted.

The farm will also create a channel to attract small and medium enterprises to produce high quality shrimps in a controlled and biosecure facility that ensures food safety, he said.