Construction starts on Fishcor horse mackerel facility

Fishcor acquired the Etale Fishing property in December 2016 at a cost of nearly $12 million.

The National Fishing Corporation of Namibia (Fishcor) officially began construction of its new horse mackerel processing facility at Walvis Bay on Aug. 4, reports the Namibia Press Agency.

The project is a partnership between the Ministry of Fisheries and Marine Resources and Africa Selection Trust.

Fishcor acquired the Etale Fishing property at the town in December 2016 at a cost of NAD 160 million (€10.1 million/$11.9 million), and is now turning that building into a processing facility.

Officiating at the ceremony on Friday, Fisheries Minister Bernhard Esau said the aim is to add value to horse mackerel, create employment and attract investors.

He estimated that the project will provide employment to 4,600 Namibians.

Esau said so far, NAD 22 million (€1.4 million/$1.6 million) was spent on demolishing and earthmoving work at the new facility, with the total expected expenditure for the period August to December 2017 to be NAD 190 million (€12 million/$14.1 million).

The minister said under the fifth National Development Plan (NDP5), the ministry is tasked to add value to 70 percent of horse mackerel landings in five years, starting with at least 40 percent in the next four years.

Esau said at the moment, only five percent value is added to the Horse Mackerel Total Allowance Catch (TAC).

He added there is a stable horse mackerel TAC of about 330,000 metric tons, which means at least 230,000 metric tons need to be value added to achieve the 70 percent target.

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