Mavin Group, a joint venture between Vietnam and Australia, signed a MOU with Vietnamese Kien Giang Province for several investments.
The company will invest in a new marine fish breeding center, a seafood processing plant and a marine aquafeed plant with a capacity of 300,000 tons per year.
A large-scale farm is also planned that will apply modern European technology such as round cage aquaculture technology from Norway, feeding and controlling technology from France and fish harvesting technology from Australia. It will produce high quality fishes such as grouper, barramundi and pompano and serve the domestic market as well as overseas. With the aim of exporting, the company will put high attention in environment controlling and traceability of origin, meeting recommendation of European Community (EC) on combating illegal seafood exploitation (IUU).
The total investment of these projects is $50 million and they will enable Mavin Group complete the supply chain in Kien Giang. These projects will also make Kien Giang become the largest center for marine fish farming of South East Asia.
Beside the marine fish farm, the company is also investing in farms in hydropower reservoirs of Hoa Binh and Tuyen Quang provinces, applying European farming technology.