Singaporean marine logistic group Marco Polo Marine (MPM) is making a move into aquaculture securing shipbuilding contracts for the build-up of "smart fish farms," the company announced to shareholders Aug. 17.
The company will be building two identical smart floating fish farms through its wholly-owned subsidiary Marco Polo Shipyard, producing at least 500 metric tons of fish per year for its local Singaporean market.
The project follows the government's plan to become 30 percent self-sufficient in food production by 2030.
Marco Polo Marine expects the contracts to positively impact the group's finances by the end of 2021.
The publicly-listed group is principally engaged in shipping and shipyard businesses in the Gulf of Thailand, Malaysia, Indonesia and Taiwan.
