20 May 2011

Solomons government signs major fisheries deal

10:31 am on 20 May 2011

The governments of Solomon Islands and South Korea are finalising a major fisheries project.

The investment proposal called the Wantok Project was unveiled in Honiara yesterday.

It's valued at 120 million US dollars and could create up to five thousand jobs.

It comes three years after a group of South Korean Investors first proposed building a marine and industrial park complex referred to as the Wantok Project.

The main investor is Dongwon Industries which has operated purse seiners and long liners in the Pacific for over 30 years.

It also owns the Starkist cannery in American Samoa.

As part of the Wantok Project, Dongwon intends to build a tuna processing plant

that has the capacity to process 100 metric tonnes of tuna per day including a

large cold storage facility.

The other Korean investors will provide services such as net making and mending, ship repairs, a fuel depot and fish meal plant and other related services.