Brazilian company receives 615,000 euros from the Netherlands to fund fish production in Cape Verde

14 December 2009

Mindelo, Cape Verde, 14 Dec – Brazilian company Universo Pescados, specialised in production and sale of fish, is due to receive 615,000 euros from the Dutch government to fund production of tilapia fry in Cape Verde, according to Brazilian newspaper Gazeta do Nordeste.

Production, estimated at 300 tonnes per year and which is due to begin at the end of 2010, will be used as live bait for tuna fishing in Cape Verde.

Non-refundable resource account for 50 percent of the value of the project, expected to cost 1.23 million euros.

The funding will be the second amount provided in 2009 to the same Brazilian company by the Private Sector Investment (PSI) Programme which channels Dutch resources to projects in emerging economies.

In April, a Brazil-Cape Verde joint venture, made up of Universo Pescados and cape Verde’s Sucla, was provided with funding of 675,000 euros by the Netherlands, representing half of the total value of a project to farm shrimp aimed at the Cape Verde and European markets.

Tilapia breeding in Cape Verde will be carried out on Sao Vicente island, in the same place where shrimp farming will be set up. The entire facility is expected to cover an area of 20 hectares for farming 120 tonnes of shrimp per year and is due to start operating in 2010. (macauhub)