Integrated shrimp farming firm, JEFI Aquatech Resources Sdn Bhd, is bringing high technology-based shrimp breeding business to Malaysia via its RM375 million investment over five years.

For JEFI, which has had a US$100 million turnover shrimp farming business in China for the past 15 years, the investment is part of its expansion plan to Malaysia amid rising demand in China, the Middle East, Europe and the United States.

"We've already invested RM100 million here. Following investments will depend on the speed the project is implemented. The RM375 million will be able to create 800 hectares of shrimp farms," said chief executive officer B.J. Tan.

JEFI's investment is divided into three main components, namely, Jefi Aquatech Centre, Jefi Aquatech Farm, which includes the development of Agro Entrepreneur Programme, he told a press conference.

JEFI's investment will be based at the Penang Science Park, located in Bukit Minyak. The location has also been earmarked to be the Penang international "halal" hub.

The Aquatech Centre will comprise a corporate office, a research and development centre, a training centre, a shrimp processing farm and a warehouse. The construction will be completed by April 2012.

The Aquatech Farm will consists of a hatchery and the farm will be equipped with the latest shrimp farming equipment, with an up-to-date standard operating procedure systems and monitoring systems.

"We have identified and verified states' aquaculture land for shrimp farming and we are now finalising it with state governments," he said, adding that priority will be given to the local community.

Tan said each farmer will be provided with ponds to cultivate shrimps under the supervision of JEFI, guided by operating procedures, best practices, supervision and training.

JEFI will also provide long-term entrepreneur contracts and guaranteed buy-back contracts at current market price to programme participants.
[Source: Vietfish International aand Government news sources ]