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French Polynesia

Chinese company refuses to scrap Tahiti aquaculture plans

Delays to a proposed multinational fish farm in French Polynesia is set to be cast aside after more than seven years of planning in the works.

Chinese company, Tahiti Nui Ocean Foods, says it remains committed to its three construction permits on the Hao atoll before they expire next year.

Despite the difficulties the company has faced to get underway, it still intends to launch all aspects of the project according to the terms of the permits.

But the repeated halts to production of the aquaculture project have come at a cost.

The farm was going to be built at $US 1.5 billion but has since been downgraded to only a $US320 million project.

It plans to employ 10,000 workers as Tahiti Nui Ocean Foods still targets the production of 5,000 tonnes of grouper and wrass annually from cages placed in a nearby lagoon.

The company is hoping to raise production ten-fold once it is operational in 2022.

The French Polynesian government has also agreed to exempt Tahiti Nui Ocean Foods from any tax for 30 years on the importation of materials and fuel.

This comes after France president Emmanuel Macron dismissed the project by doubting the validity of investors during a visit earlier in the year.

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