EC looks to fish farming as a major future earner

Multi-billion rand investments into the Eastern Cape's aquaculture industry have placed the province in pole position to challenge the Western Cape's dominance in the sector.

Projects include the pilot phase of the ambitious R7billion prawn farming venture announced at the end of last year in the Coega Industrial Development Zone (IDZ) .

The scheme is driven by American company SeaArk, which has been running a pilot abalone farm for two years in the East London IDZ and Wild Coast Abalone at Haga Haga, in order to take advantage of the strong demand for abalone from Asia.

East London IDZ boasts a kob hatchery driven by Espadon Marine.

The Eastern Cape Development Corporation (ECDC), the province's economic development agency, recently completed a strategic environmental assessment to identify sites conducive to sea-based fish farming off the Eastern Cape coast to bolster the province's aquaculture production.

Aquaculture has emerged as a boom industry around the globe, driven by declining harvests and growing demand which has resulted in approximately 47% of the world's fish production being farmed.