PJ Blue Archipelago Bhd, a subsidiary of Khazanah Nasional Bhd involved in the shrimp aquaculture industry, will operate a RM150 million processing farm called ” The iSharp Setiu ” in Terengganu, June next year.
Chief Executive Officer Dr Shahridan Faiez said the company, which operates a shrimp farm in Kerpan, Kedah, would emerge as a direct seller of the seafood once the 1,000 hectare farm commences operations.
He said the farm is expected to contribute RM100 million in revenue to the company’s bottomline between three and four years.
The Kerpan farm currently sells fresh shrimps to third party processors.
“We export 60,000 tonnes of shrimps a year. With the harvest from both farms we will be able to produce a minimum of 15,000 tonnes of white leg shrimp for the global market.”, he told reporters after a seminar on the outlook for the US shrimp and seafood market by Darden Restaurants, Incorporated here on Monday.
He explained that the farm, when fully operational, would be Malaysia’s first integrated aquaculture industrial park.
“It will act as a catalyst for growth in a rural place, providing employment for more than 1,500 people”, he added.
Convinced that he has landed a viable project, Shahridan said he is confident of attracting high quality, ethical and value driven partners.
“This farm will also create a channel to attract shrimp aquaculture small and medium enterprises to produce high quality shrimps in a controlled and bio-secure facility that ensures food safety, he said.
Shahridan added Malaysia has potential to become the major player in the industry but there must be cooperation among industry players.
Meanwhile, Senior Vice President, Purchasing and Supply Chain Innovation of Darden restaurants Incorporated, Bill Herzig said the outlook for partnership with Blue Archipelago appeared positive.
“We are currently learning about the operations and openings in Malaysia with Blue Archipelago. There are opportunities for future partnership but nothing much can be said now. — BERNAMA