Singapore-based aquaculture firm Lim Shrimp Organization (LSO) has signed a contract with ecMAX, a supplier of Chinese e-commerce platforms, valued at EUR 100 million (USD 112 million), according to Indonesian news site DMagz.
LSO is a social enterprise partner in shrimp and fish aquaculture operations throughout Asia, Oceania, and Africa. On 27 March, LSO owner Djames Lim signed a 10-year contract with representatives of ecMAX to provide the key supplier of online retailer of JD.com with a minimum of EUR 10 million (USD 12 million) worth of shrimp produced at the company’s farm in Sumbawa, West Nusa Tenggara, Indonesia.
The farm is currently producing around 700 metric tons of shrimp, according to Lim Shrimp Indonesia Country Director Ronald Lam. The deal may also include other aquaculture products, and will require the construction of a processing plant, which he said will open next year. Lam said a main goal of the agreement is to boost Indonesian exports, supporting the local economy in Sumbawa as part of the company’s social enterprise mission. LSO will ship its seafood products from Indonesia through Singapore to ecMAX in China, Lam added.
In the past two years, LSO has rapidly expanded its footprint, with plans underway to open a multi-stack recirculating aquaculture system in Liaoning Province, China, a USD 130 million (EUR 115.9 million) multi-species aquaculture project in Oman, and a dozen community aquaculture projects, which the company calls “Aqua-Villages,” in Indonesia, Qatar, Saudi Arabia, Malaysia, China, Thailand, the Philippines, Palau, and the Maldives.
