By Hamdan Ismail
LANGKAWI, Jan 20 (Bernama) -- Langkawi is set to become a major producer of South American white shrimp through an aquaculture joint-venture project between Koperasi Pelaburan Pembangunan Hartanah Perak Berhad (KPPH) and China's Fubao Group.
A memorandum of understanding on technology and marketing partnership of the project was signed between KPPH and Fubao here today, witnessed by Angkatan Koperasi Kebangsaan Malaysia Bhd (Angkasa) President Datuk Abdul Fattah Abdullah.
Abdul Fattah said KPPH was offered a 250-acre (101.17 hectares) site by the Malaysian Fisheries Development Authority in Bukit Malut here for a large-scale shrimp farming project that could generate a revenue of about RM1.5 billion per year after three years of implementation.
"KPPH will be the anchor co-op and will invite other co-ops, especially those in Langkawi to join hands in making this shrimp farming project a success," he told reporters here today.
Abdul Fatah said the project is expected to create more than 1,000 jobs, as well as intensify research and breeding of South American white shrimp species.....