Malaysian Government Signing Ceremony Cell Aquaculture Limited...

Malaysian Government Signing Ceremony

Cell Aquaculture Limited (ASX Code: CAQ) has participated in a signing ceremony with government officials in Malaysia to mark the beginning of its Malaysian joint venture aquaculture company - TRG Cell Sdn Bhd. Building and site works are now complete and ready for Cell's final fit-out before the expected initial 100 tonnes annual production of barramundi commences, along with a range of further specialty fish species. Stage 1 of the project has a targeted capacity of 700 tonnes of finfish production per annum.



Special guests at the signing ceremony were Dato' Tan Sri Muhyiddin Yassin, Malaysia's Federal Minister of Agriculture and Dato' Seri Haji Idris Bin Jusoh, Premier of Terengganu. Formal joint venture documentation was signed with CAQ by Terengganu's State Agriculture Minister, Dato' Mohd Jidin Shafee.



At the ceremony, Federal Agriculture Minister Tan Sri Muhyiddin Yassin, announced a master plan to inject RM 2Billion (approx A$700 million), for expansion of Malaysia's land based aquaculture industry, with a major focus on Terengganu State.



Commenting on the government announcement, CAQ General Manager, Mr Peter Burns stated, "we are delighted with the strength of the relationship and momentum this venture is gaining. It is a very exciting time and we see enormous future opportunity as Cell Aqua plays a key role in the development of the aquaculture industry in Terengganu State."



To view the full announcement, please click the following link:

http://www.cellaqua.com/files/ASX-malaysian-jv-040907-final.pdf



To view images of the signing ceremony, please click the following link:

http://www.cellaqua.com/projects.asp