Proposed Tuna Loining Plant In FSM Could Employ 1,000

$20 million investment in Pohnpei presented at National Fisheries Summit

POHNPEI, Federated States of Micronesia (Kaselehlie Press, May 31, 2016) – An ambitious plan to set up a tuna loining plant in Pohnpei is likely to employ a thousand people if it gets off the ground, reports Kaselehlie Press.

A spokesperson for Frabelle Fishing Corporation unveiled the plan at the recent National Fisheries Summit. The proposed company to be called FSM Seafood Incorporated is a cooperative venture between Frabelle, Caroline Fisheries Corporation, a local Pohnpei purse seiner in partnership with the Pohnpei State Government and Silla Company, Limited, a Korean fishing company that operates in the Western and Central Pacific Ocean and in the Atlantic Ocean.

Kaselehlie Press said the joint venture hopes to supply frozen cooked loins to canneries associated with the proponents and to Spain, EU, U.S., and other markets and has no plan to establish a cannery in FSM.

The initial capital outlay for the company is proposed to be $20 million.

The plan is ambitious for a variety of reasons not the least of which is the available work force in Pohnpei.

The proposal says that for the first year of operation the plant would operate on a single shift that would require approximately 500 workers. When it expands to two shifts in the second year, it would require approximately 1,000 workers. They are hoping to process as much as 60 metric tons of tuna per day, which they said would require 2,500 days of fishing under the Vessel Day Scheme.

The Kaselehlie Press
Copyright © 2016 The Kaselehlie Press. All Rights Reserved

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