Mon, 22 Mar 1999

Revindo aids fishermen

JAKARTA (JP): Fishing company PT Reva Indo Overseas (Revindo) announced on Saturday the signing of an agreement with 16 village cooperatives in Boul Toli-Toli regency of Central Sulawesi, to jointly develop a Rp 26 billion (over US$3 million) integrated fishing industry.

Revindo president Tjipto G. said the company and the cooperatives would build a Rp 17.5 billion cold storage in the first stage to store the fish and fish-related products caught by fishermen who were members of cooperatives.

"The construction of the cold storage will begin by the end of this month. We expect to complete the realization of the integrated fisheries industry in January 2000," he said.

According to Tjipto, the cooperatives own 80 percent of the company's shares, with the remainder owned by Revindo.

He added that Revindo would initially handle the operational management of the company, with management to be transferred to the cooperatives after several years.

Tjipto said the integrated fishing industry would produce frozen and canned fish, dried and smoked fish, salted fish, fish powder and fish and shrimp seeding. (gis)