Chinese shrimp giant Zhanjiang Guolian Aquatic Products announced plans to acquire a 25.3 percent stake in India’s food processing company Royale Marine for $4 million (€3.6 million), the company said in a notification to the Shenzhen Stock Exchange.

Royale Marine, based in the Indian shrimp farming state of Andhra Pradesh, is worth approximately $11.8 million (€10.6 million), according to the documentation.

The acquisition is part of Guolian’s five-year strategic development plan, which includes the development of markets in China, Southeast Asia, and South America.