Aquaculture

Overview of Proposition

In 2013, the Seafood Industry Development Company Limited (SIDC) established a marine, recirculating aquaculture system in order to produce high-priced, high-value products for local and export markets.

A pilot inland marine shrimp project will determine the technical and commercial feasibility of tank-based production of marine shrimp in a sustainable way, utilizing recirculating aquaculture systems.

The project will partner with stakeholders and provide them with project management, research, information, training and mentoring.

Current facilities include approximately 560 square meters (6,000 square feet) of covered floor space that house six marine recirculating aquaculture systems (four for production trials), a quarantine room, a live feed production room and a water quality laboratory. In addition, there are temperature-controlled storage areas for feed and an additional 560m2 (6,000 square feet) covered shed with tanks.

Other ideal species to be farmed in T&T are pompano, cobia and yellowtail kingfish, since they are all found in regional waters. Currently both the cobia and pompano are successfully reared in tank-based RAS and flow-through systems.

Advantages of Investing

• The global demand for seafood is projected to increase due to increasing population growth and global per capita consumption of seafood.
• Annual consumption of farmed fish from aquaculture is estimated at 112 tonnes (imported and locally produced).
• The domestic market for fish and fish products is 17.9 million and the demand in key export markets is projected to continue to grow.
• EU self-sufficiency in seafood is projected to continue to decline. The EU is the world’s biggest importer of seafood and present trends indicate that its dependence on seafood imports will continue to grow.
• The US currently imports ~80% of the seafood that is consumed by Americans. Americans are increasingly demanding high quality value added products produced in a sustainable manner.
• There is considerable and growing demand in the North American, European and Japanese markets for high value marine white flesh fish species instead of farmed salmon.

About the Investment

An Initial Investment amount of US$3.15M spread over the first two years, to include:

• Site preparation
• Facility construction
• Water supply and drainage
• Equipment
• Startup expenses
• Purchase of initial fish stock

Acquisition of 10 acres of land for project (Investors shall be guided and assisted by InvesTT in the sourcing of the most suitable land location).

All investors will be able to partner with agencies in Trinidad and Tobago with responsibilities for the aquaculture sector and to be facilitated in technical and administrative areas.