Sino Agro Foods plans to farm 2,000 metric tons of shrimp in an indoor farm by 2013, the company announced on Thursday.
The agriculture technology and organic food company has two joint venture products under way, Enping City Bi Tao A Power Prawn Culture Development Co., and Enping City Bi Tao B Power Fishery Development Co., both of which the company holds a 25 percent stake in.
In February, an AP Technology Consulting Services Agreement between Capital Award, a wholly owned subsidiary of Sino Agro, and a group of Chinese businessmen, was executed to begin the development and construction of a shrimp farm in Enping District, Guangdong Province, China. Construction began in May.
The company anticipates phase one construction, which is expected to produce about 500 metric tons annually, to be completed on or before 30 September.
There are four stages of development planned with the total annual production expected to reach 2,000 metric tons of shrimp and seafood by mid-2013.