Tahiti-China in US$100 million aquaculture deal

2012-07-05T12:00:00Z

French Polynesia’s President Oscar Temaru has said an agreement has been signed with a Chinese company to set up a joint venture in aquaculture. The Hao Atoll investment deal is reportedly worth $100 million yearly, according to Radio New Zealand International.<!--more-->

Mr Temaru has revealed that talks have been held with the Taijin Jasmin Fund Management Corporation, which he says is prepared to invest US$100 million a year over 15 years to expand the fishing potential around Hao atoll, according to RNZI. The atoll was a key base of the French military for 30 years when it used the South Pacific to test nuclear weapons.

Mr Temaru has told the Nouvelles de Tahiti that the Chinese partners plan to invest huge sums into research and hatcheries, which may ultimately boost Hao’s runway to become an international airport. He says the plan is for the new joint venture company to be established in Hong Kong.

He has local media that the deal will need to be discussed with new French leadership but that no date has been set.

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