HK, RI set up fishing firm

HK, RI set up fishing firm

JAKARTA (JP): PT Minasanega Perkasa and Giant Enterprises
Limited of Hong Kong have agreed to establish a joint-venture
company to engage in fishing in Indonesia's Exclusive Economic
Zone.

Under an agreement signed on Monday evening by Minasenaga's
director, M. Ng. Abiyoso, and Giant Enterprise's president, Liu
Chaoying, the joint venture will invest in fishing vessels,
machinery and other equipment.

In the first phase of the plan, the new company will procure
fish from local fishermen.

Abiyoso said the joint venture will also establish a shipyard
to produce wooden fishing vessels.

Chairman of the Association of Indonesian Fishermen, Tuk
Setyohadi, who witnessed the signing of the agreement, said that
the operation of the planned joint venture is expected to help
make fuller use of the country's Exclusive Economic Zone, which
covers an area of 5.7 million square kilometers. (01)