PT&I helping find investors for innovative aquaculture business
While in Majuro on the margins of the recently held Pacific Island Trade & Invest (PT&I) Investment Profiling Workshops, PT&I’s Trade Commissioner Michael Greenslade, COO Manuel Valdez and PT&I training consultant Ian Furlong visited an innovative hatchery of ‘moi’ fish, also known as thread fin fish. <!--more-->
[caption id="attachment_7430" align="alignleft" width="450"]<a href="https://pacifictradeinvest.com/PTI/wp-content/uploads/2015/10/rsz_1james_matayoshi.jpg"><img class="size-full wp-image-7430" src="https://pacifictradeinvest.com/PTI/wp-content/uploads/2015/10/rsz_1james_matayoshi.jpg" alt="James Matayoshi making his presentation at the PT&I Investment Profiling Workshop in the Marshall Islands recently." width="450" height="337" /></a> James Matayoshi making his presentation at the PT&I Investment Profiling Workshop in the Marshall Islands recently.[/caption]
Moi fish is widely known as the ‘fish of kings’ in Hawaii and is a highly prized white fish noted for its delicate texture and unique flavour. Wild stocks of moi fish are hard to come by in Hawaii because of overfishing and so is currently not available in markets on a regular basis.
The project that the PT&I team visited was Aquaculture Technologies of the Marshall Islands (ATMI), which seeks to farm high quality moi fish to meet the increasing demand of the Hawaiian and East Asian markets. Moi fish in Hawaii can fetch as high as US$13 per pound.
ATMI is based on an integrated business model which produces a high quality organic fish feed, hatchery operation and grow-out fish cage production. The business plan indicated that a US$3 million capital investment would give a projected return of investment of 27.2 per cent with a payback period of 5 years.
ATMI is looking for potential investors either of equity participation or debt-to-equity financial arrangement. PT&I’s COO and Head of Investment Manuel Valdez assured James Matayoshi, President of ATMI that his investment profile would be uploaded to the PT&I website. He also said that steps would be taken to promote his business plan to potential investors through the five trade offices of the PT&I Network in Auckland, Beijing, Sydney, Tokyo and Geneva.
On behalf of PT&I (NZ), Mr Valdez also endorsed ATMI and submitted the investment profile to Seva Payevskiy, IFC-World Bank who also attended the workshop during that time. Mr. Payevskiy said IFC was interested in the aquaculture sector and would inform PT&I its assessment of ATMI’s plans. ATMI received a prize worth US$150,000 for its innovative aquaculture project from the Government of the Marshall Islands. Mr. Matayoshi told Mr. Valdez that he will have the first harvest anytime soon.
For more information, contact Manuel Valdez, COO & Head of Investment, PT&I (NZ). Email: