FIRST EVER SALMON RAS PROJECT IN SOUTH-EAST ASIA

First ever salmon RAS project in South-East Asia. 8F Asset Management and Pure Salmon, the land-based salmon farming company, have announced a new 10,000 tons per annum Recirculating Aquaculture System (RAS) facility in Brunei. The US$180m state-of-the-art Atlantic salmon farm will be developed in partnership with The Strategic Development Capital Fund, Brunei Darussalam. The Strategic Development Capital Fund is a Brunei Government Trust Sub-Fund established to provide long-term financial sustainability for the country, through diversification of investments that will generate economic growth.

The new Pure Salmon project perfectly fulfils this goal, not only providing sustainable salmon products free of antibiotics, pesticides, hormones and microplastics, but also by bringing a new industry to the country as the first land-based salmon farm in South-East Asia. Once complete, the project, which is due to commence in Q3 of 2020, will generate up to 145 local jobs, serve as a model example for other countries to follow and also contribute effectively to the local economy. From a national perspective, the project will also attract significant foreign direct investment for Brunei, with numerous global investors having already expressed an intention to participate.

Local staff recruited to the facility will receive thorough training from Pure Salmon’s team of experts, including practical training on-site in one of the company’s existing facilities (initially in Poland).

In addition to its ambition to become a world leader in high-quality, clean, sustainable and fresh salmon, Pure Salmon, which launched in 2018, is also dedicated to the development of health and education of the regions in which it operates. Therefore, as part of this new project the 8F and Pure Salmon Foundation will implement social and educational initiatives in partnership with local schools and universities in Brunei to support greater education on healthy eating and nutrition for the children in the region.

When asked about the new facility in Brunei, Karim Ghannam, Board Director of Pure Salmon and CEO and Co-Founder of 8F Asset Management commented:  “Our aims as a company are to address the supply of clean, healthy, locally produced protein while providing increased opportunities for the local community.

The project puts Brunei at the leading edge of innovation in sustainable food production, addressing the increasing demand from a continuously growing population, while contributing to the food security of the country.”

Minister at the Prime Minister’s Office and Minister of Finance and Economy II Dato Seri Setia Dr Awang Haji Mohd Amin Liew bin Abdullah was the guest of honour at the signing ceremony.  MD of the Strategic Development Capital Fund, Mr Junaidi Masri said: “We look forward to working together with 8F Asset Management Pte Ltd in implementing this project further.”

This announcement follows a number of strategic launches in recent months with projects now announced in Japan, the USA, Europe, China and Lesotho in addition to its fully operational facility in Poland (producing adult-size fish of 4-5kg). The new facility in Brunei, as well as its other projects around the globe will all contribute to Pure Salmon’s aim to produce 260,000 tons of salmon per annum.

Each Pure Salmon farm uses Recirculating Aquaculture System (RAS) technology, a proven and scalable method of aquaculture, provided by Pure Salmon’s technology partner AquaMaof, that sees the fish reared in the healthiest living conditions possible, that closely replicate the positive qualities of their natural environment, while significantly lowering the cost of production compared to traditional sea-cage farming.

For more information on Pure Salmon, please visit: www.pure-salmon.com

Picture credit: 8F Asset Management