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Norwegian firm plans to build $24M fish farm

Norwegian firm plans to build $24M fish farm

Norwegian firm Vitamar AS Co plans to invest $24 million into a large-scale marine fish farm in Cambodia’s Preah Sihanouk province, state news agency AKP reported yesterday.

The agency said $11 million of the total investment would be used within the next two years for infrastructure, including construction of a coastal facility and egg-hatching site, as well as staff training.

Another $9 million would be used during the following three years to increase fish production from 1,000 to 2,500 tonnes annually, and to expand distribution and exports.

The remaining $4 million would then be used to achieve a goal of producing some 3,000 tonnes of fish a year and for market expansion.

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