Aquaculture economic niche for Malta’s economy

The Minister for the Economy, European Funds and Lands Silvio Schembri visited a plant under construction in Ħal Far and which will be making a new product from the normally discarded tuna waste.

During this visit he said that this project is a clear example of where we want to go in future projects. He said that through this project not only a new industry is being created that will make money in our economy, but also material that is normally thrown away is being used. This will lead to the creation of a new product that goes hand in hand with the concept of a circular economy.

Minister Schembri explained that for this project three main aquaculture operators in Malta have joined forces, who have come up with this new project which will see that the waste of tuna instead of being thrown into the sea, will start they are used to make fishmeal and fish oil which are used as animal and fish feed.

It is also intended that other fish used for feed will be stored and prepared for use in this plant itself and therefore there will be no more problems such as feed oils at sea. To this end, this company will also invest in a cold storage facility.

The minister added that this project was also possible through land provided by INDIS to enable the construction of this plant, with an investment of € 11 million.

Charlon Gouder on behalf of Aquaculture Resources Limited spoke about the prestige of the tuna industry in our country and abroad and explained that now this industry will be doing much more while putting into practice the the concept of circular economy.

Photos:(DOI/MEFL)