CPF to expand aquaculture in China
The board of directors of Charoen Pokphand Foods (CPF) yesterday approved an additional Bt58.35 million worth of funding for aquaculture projects in China and Malaysia next year, says president and CEO Adirek Sripratak.
He said CPF would establish a new wholly owned subsidiary called CP Aquaculture (Dong-fang) in next year's first quarter. CP Aquaculture (Dongfang) will have initial registered capital of 10 million yuan (Bt45.91 million). The company will operate a shrimp hatchery in China. Establishment of the subsidiary is in line with plans to expand aquaculture in that country.Adirek said CPF invested in the aquaculture industry in Malaysia last year and that the company felt there was a potential to invest in fish feed there, too. He said the company's board granted approval for wholly owned subsidiary Star Feedmills to purchase fixed assets for fish-feed operations valued at 1.29 million ringgit (Bt13 million). Adirek said the transaction would help fulfil CPF's objective of expanding aquaculture operations in Malaysia. The Nation
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