A ground-breaking ceremony recently took place on a $3.4m project to build Brunei’s first indoor red grouper breeding pond.
The fish farm, which will use Ecological Recirculating Aquaculture System (Eras) technology, is expected to produce 50t of red grouper a year, before gradually increasing to 250t a year
Myinvesco Hi-Q Biotech Sdn Bhd signed a joint venture deal with Taiwanese firm Planet Hi-Q Marine Biotech in 2009, making Brunei the first country in the world to rear red groupers using the Eras technology.
Valued at US$32 ($48) per kilogramme, the revenue from exports of the red groupers, locally known as kerapu merah, will give a significant boost to the country's fishing industry.
According to reports, the park will be divided into several lots to be offered to both local and foreign companies.
The construction of the farm will take six to seven months whilst the red groupers will take 11 to 12 months to grow to market size which is 500g to a kilo.
