Freshwater fish farming

PELIDC Fishing Company (“PELIDC”) is a joint venture project between Industrial Development Corporation Limited (“IDC”), Pendulum Transport and Fisheries Limited and Pendulum Estates Limited. the strategic objective of the project is to contribute towards minimising food supply shortages and contribute towards job creation by playing a role in building the nations aquaculture industry, in the midst of on-going climatic change. The project involves the development and construction of one hundred and fifty (“150”) 1ha on-land fishponds over a period of six (“06”) years. During operations, primary facilities will include; 1. A hatchery with a production capacity of 12 Million fingerlings for the fish farm and local market supply, 2. A commercial fish feed plant to manufacture and supply the farm with quality feed, 3. A fish processing facility and distribution centre complete with freezing and storage facilities as well as a training centre focusing on upskilling of staff and local populous. PELIDC plans to implement the project in phases and intends to fund the project through a combination of Shareholder contributions, financing from the Zambia Aquaculture Enterprises Development Project (“ZAEDP”) and PELIDCs Internally Generated Funds (“IGFs”). PELIDC has spent over ZMW1 Million to advance the project to its current development status which involves the incorporation of the project SPV, Acquisition of approximately 2,000 hectares of land in Milenge District of Luapula Province Zambia, community sensitization, implementation of the Resettlement Action Plan (“RAP”) and the projects feasibility study

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