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Fishy business. The Social Impact of SST.pdf - Act Now!

Fishy business. The Social Impact of SST.pdf - Act Now!

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w. Appendices1. Press clippingsPost-Courier 7.6.00Govts, developer sign Wewak tuna fish dealWORK on the K84 million Wewak tuna fisheries project is soon to begin, with the signingyesterday <strong>of</strong> the project agreement between the national and provincial governments andproject developer, Angco Ltd.<strong>The</strong> project is expected to haul in more than K38 million in direct annual benefits to PNG andwould <strong>of</strong>fer more than 3600 jobs.It will be implemented in two phases, each involving over K40 million and more than 200 metrictonnes <strong>of</strong> fish a day.Angco Ltd chairman Thomas Negints said at the signing yesterday: "Phase one will cost aboutK36-44 million to produce 200 metric tonnes <strong>of</strong> fish a day in the first two to three years."Phase two will cost another K36-40 million to double production <strong>of</strong> 450 metric tonnes <strong>of</strong> fish aday."Construction is expected to start next month and should take nine months before fishing canstart.Mr Negints said the engineering, technical and other planning issues have been done already.He said the land would be cleared immediately."Project design and construction <strong>of</strong> the factory will be done by world experts who (have) builttuna cannery factories. World's most modern state <strong>of</strong> the art design technology will be adoptedto construct the factory."Latest design and technology improvements to factories all over the world will be applied to thefactory in Wewak."He the project began in 1997 and they have spent more than K5 million already."We are very proud that we achieved our goal (resulting in) today's signing ceremony."We are proud particularly in that we succeeded in forming the joint venture with the world'sleading tuna companies."<strong>The</strong>y are Starkist Sea Foods which is world number one tuna manufacturer and marketer <strong>of</strong>tuna in USA and FCF Fisheries Company <strong>of</strong> Taiwan, which is number one fresh tuna fish brokerin the world."174

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