Pacific Fishing Company's (PAFCO) is constructing a new cold storage facility and is undergoing other upgrade works in the next 24 months, reported The Fiji Times.
The $25 million (€20.9 million) upgrades will be co-financed by the government, a bank loan, and a long-term soft loan from Bumble Bee Seafood, which was recently acquired by Thai Union Frozen Products (TUF), Ikbal Jannif, board chairman at PAFCO, said.
"I cannot reveal other details as these are still being negotiated," he said.
"The commissioning of the new cold store at the end of this year will allow PAFCO to buy and store more fish during high catch periods," he said.
