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03_05_2019_SIGNING CEREMONY OF SEA LICENSE AGREEMENT AND LAND LEASE AGREEMENT BETWEEN THE DEPARTMENT OF FISHERIES, MINISTRY OF PRIMARY RESOURCES AND TOURISM, BRUNEI DARUSSALAM; AND BARRAMUNDI ASIA (B) SDN BHD

The Department of Fisheries, Ministry of Primary Resources and Tourism signed 2 agreements on Sea License Agreement and Lease Agreement with Barramundi Asia (B) Sdn Bhd.

Present at the signing ceremony was Yang Berhormat Dato Seri Setia Awang Haji Ali bin Apong, Minister of Primary Resources and Tourism. His Excellency Mr. Lim Hong Huai, High Commissioner of the Republic of Singapore was also present at the ceremony.

The signing of the agreement officially granted licenses for Barramundi Asia (B) Sdn Bhd to initiate their intention to develop an area of 6,613 hectares at Nankivell Offshore Aquaculture Site and an area of 25.1 hectares located at Lot 6054 Kampung Meragang, to establish high-quality hatchery and fish nursery for the production of seabass juveniles to be supplied to the offshore fish cages.

The company will be investing $18 million in phase 1 for the culture of barramundi or seabass in offshore cages in Brunei Darussalam and will be adopting the advanced technologies and sustainable aquaculture husbandry and farming practices employed in Europe. At the conclusion of phase 1, the project is expected to produce 4,000 metric tonnes of barramundi fish by the year 2024. The farm will then increase its production progressively to 36,000 metric tonnes by the year 2032 with its biomass worth over $324 million once the company is running at maximum operational capacity.

The Permanent Secretary, Ministry of Primary Resources and Tourism, in his welcoming remarks during the ceremony, stated this project will be economically and socially beneficial for both Brunei Darussalam and Singapore. From Brunei Darussalam's perspective, this project will receive a substantive foreign direct investment into the aquaculture industry and will boost the country's total fisheries production significantly by 2032. This project will also create about 100

jobs for locals and will increase contribution of fisheries export to the economy as well as creating many spin-off businesses in Brunei Darussalam, for example in the logistics and services sectors.

Mrs. Mariani Haji Sabtu, Acting Director of Fisheries signed the agreement on behalf of the Department of Fisheries, Brunei Darussalam, while Ms. Eva Lim, General Manager of Barramundi Asia (B) Sdn Bhd signed on behalf of Barramundi Asia (B) Sdn Bhd. Witness signatories to the Agreements were Mr. Liew Kou Yew, Chief Financial Officer of Barramundi Asia Pte Ltd and Mrs. Hajah Rosinah Haji Yussof, the Head of Aquaculture Industry Development Division at the Department of Fisheries.

Also present at the signing ceremony were the Chief Executive Officer of Singapore Food Agency, Mr Lim Kok Thai and Deputy Chief Executive Officer of Enterprise Singapore, Mr Ted Tan; the Permanent Secretaries, Deputy Permanent Secretaries, senior government officials, officials from SDC, Ministry of Finance and Economy as well as from DARE.




Ministry of Primary Resources and Tourism Brunei Darussalam

2 May 2019

 


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