Products
Upon reaching full capacity in 2031, company will have the capacity to sell 5,000 tonnes of sea trout per year. The company is planning to sell 50% of its product domestically and export the other 50% to Russia, Belarus, Kyrgyzstan, China and Vietnam).
Project description
The Project envisages farming of sea trout (Oncorhynchus mykiss) in 5,000 tonne/year fish hatcheries in Mangistau region. Trout farming is to be performed in the Caspian Sea water area in hatcheries covering 3,000 ha, 20 km from Kuryk port. At the moment, the initiator signed a contract for cage fish farming for 49 years on an area of 3000 hectares in the Middle Caspian Sea with the territorial body of the Fisheries Committee of the Ministry of Ecology and Natural Resources of the Republic of Kazakhstan, and also approved the resolution of the Akim of the Mangistau region on the assignment of the site to the Company.
Company
Organic Fish LLP was created to implement a Project for the hatchery farming and processing of sea trout.
Market
- In 2022, total fish production amounted to 183 million tonnes, which is 1% higher than in 2021. As at 2022, rainbow trout accounted for 2% of total fish produced globally. In 2022, the main fish producers were China (35%), India (8%) and Indonesia (7%).
- A total of 13.3 thousand tonnes of commercial fish was farmed in Kazakhstan in 2022, which is 82% higher than in 2021. For 2018-2022, the CAGR for commercial fish farmed at fish farms was at 23.8%, and 7.9% for fish caught.
- Advantageous location. Having production based in Mangistau region will provide access to a well-developed rail and road system, as well as sea routes, manage feedstock supplies as well as product supplies to neighbouring regions and countries. Kuryk port is located in a natural bay, at the crossroads of the East-West (“One Belt, One Route”) and North-South (Iran, India, Russia) trading corridors. The location provides access to Mangistau region consumer markets with a population of over 778 thousand, and the neighbouring Atyrau, Aktobe and WestKazakhstan regions, which are home to over 2.3 million people.
- State support. The Project is recognised as a priority for state support, making it eligible for a number of concessions and land grants.
The Project requires investment of US$ 22,100 thousand, of which:
- 88% (US$ 19 500 thousand) – investor participation;
- 12% (US$ 2,600 thousand) – initiator’s own funds.
The final investment structure will be determined after a preliminary design being developed by the Norwegian institute. At the same time, during the period 2020-2022, the Company has invested sufficient funds (2.8 million USD) to conduct marine research in the Middle Caspian Sea, a preliminary feasibility assessment of the project and the purchase of an aquaculture site for 49 years and is currently financing the development of project documentation and detailed marine baseline environmental studies at the site assigned to the Company.
