A Chinese-owned seafood company, Grandeast Inc has invested US$25m in a plant here and large amounts of shrimp are currently being processed.
This was disclosed yesterday in a release by the Ministry of Agriculture.
The release said that Grandeast Inc. is a wholly-owned subsidiary of Fuz-hou Hongpu Aquatic Pro-ducts Co., Ltd. in Fujian, China, a company specialising in “processing and trading of fishery products”.
The ministry said that the facility was constructed at a cost of US$25 million and is outfitted with modern seafood processing equipment.
The announcement comes amid ongoing concerns about the clandestine issuance of two seabob trawling licences by the ministry earlier this year, the basis for which has not been explained. Questions had also been raised as to whether or not Chinese interests had been behind the acquisition of the two licences.
During a tour of the facility yesterday, Agricul-ture Minister Zulfikar Mustapha said that he welcomed the market opportunities being presented to local fishermen by the processing facility.
“So far I am quite impressed with the facility. This was a massive investment and it provides a ready market for our fishermen. Most of this company’s suppliers are fishermen from the West Coast of Demerara. Today we were able to witness the entire processing procedure for one of their products. The General Manager would’ve indicated that there is a ready market for this particular type of processed shrimp in China with room for expansion in the market. Our local fishermen would usually discard certain species of shrimp because there was no market for them locally. This company has provided that market and fishermen are now encouraged to work more hours weekly to satisfy the demand. As a government, we support these types of investments and we will continue to support investments that benefit the people and the development of this country,” Mustapha said.
According to the release, General Manager of Grandeast Inc. Wu Junyu said that the company has provided employment for up to 240 persons so far. He also said that this was the first phase of the company’s local operations and that plans are being broached for the commencement of phases two and three. Junyu also said that with the company looking to expand, it will require more produce from local fishermen in order to supply its Asian market.
Sustainable fishing in Guyana’s waters has been a major issue in recent years and it is unclear whether this has been taken account of in the permitting of new processing companies.
The release said that Hong Dong Fisheries Co., Ltd., which is the holding enterprise of Fuzhou Hongpu Aquatic Products Co., Ltd is involved in “ocean fishing, fishery base operations, cold chain logistics, fish processing, import and export trade, marine biology research, and aquatic product market operations management”. The release added that it is the largest comprehensive fishery enterprise in China with the largest number of fishing vessels, many product categories, and a complete industrial chain.
