According to the head of the Seychelles Fishing Authority Asmak is willing to develop tuna ranching in the waters. It is said that the company has signed a six-month memorandum of understanding, under which it will also look into developing the Seychelles capital Victoria into a major fisheries hub to rival leading Asian tuna centres. Both the companies have declined to disclosed any other information.
Mohamed Salim Makwana, Assistant General Manager of subsidiary Asmak International Fish Farming Holding Co, has confirmed its investment in the Seychelles fisheries sector. As the financial crisis highlights the risks of an economy heavily dependent on tourism, the Seychelles wants to diversify its indebted economy and develop its fisheries industry.
Rondolph Payet, Chief Executive Officer of the Seychelles Fishing Authority (SFA), informed that the idea is to turn Victoria into a tuna trading hub to rival the likes of Bangkok. He added that the tuna ranch will involve off-shore cages where the tuna will be fattened up before export to Asia and Europe. It is also opined that there is a need to add value to the tuna that is unloaded here in Seychelles, whether it is stored here for longer or traded here.
