Asmak promotes Dh70m hatchery

10 September 2001 | Gulf News, Abu Dhabi - Stanley Carvalho

The International Fish Farming Co (Asmak) has signed an agreement with the UAE Ministry of Agriculture and Fisheries to produce fish juveniles in Umm Al Quwain by setting up the largest commercial hatchery for finfish in the region, an official confirmed yesterday.

The agreement was signed on Saturday.

Investment is pegged at Dh70 million. "Work (construction) will start shortly and production is expected to start by May 2005," the official added.

Initially, the hatchery will produce finfish, and later will have shrimps and other species.

The hatchery is expected to produce some 25 million finfish juveniles annually. "This project will constitute a strategic reservoir for Asmak, enhancing the production of its various fish farming facilities of which Ras Al Khaimah and Fujairah facilities are the most prominent," he said.

Once production commences at Umm Al Quwain, it would reduce the company's costs by 30 per cent.

"Presently, we are importing fish juveniles from Europe and Kuwait for the farms in Ras Al Khaimah and Fujairah. Cost reduction can already be seen since we began imports from our joint venture facility in Kuwait."

Asmak's project is located near Umm Al Quwain's marine research centre, which will be the ideal platform for exchanging the technical knowhow and expertise from its Greek partner, Nireus SA.

Production started earlier this year at Asmak's cage farm in Oman whose targetted production is 2,460 tonnes annually by 2004.

Asmak's venture with Oman's Cyclone - Qurayat Fish Farming - is capitalised at OR500,000 with Asmak holding 65 per cent.

Production has commenced at Asmak's joint venture hatchery in Kuwait. The partnership with the Kuwait Institute of Scientific Research, the Gulf International Fish Farming Co, is capitalised at KD100,000.

The Dh18 million Fujairah project is progressing steadily with rearing of juveniles. The project, which comprises 25 hectares offshore cage farm near Dibba and a 5,000 square metre onshore supporting facility plus a packaging unit, has a capacity of 2,000 tonnes of fish annually.

The official said Asmak will work closely with the ministry on the Umm Al Quwain project.

Incorporated in 1999, Asmak is capitalised at Dh300 million. Core business involves processing and developing fish/marine products and providing consultancy services to the fish industry.

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