Local officials of Parang, Maguindanao yesterday formally received the Letter of Intent of the group of investors who would like to establish a Mariculture Park in the Illana Bay fronting the town.
Parang Mayor Cahar Ibay, Vice Mayor Adnan Biruar and members of the legislative council received the LOI after a final presentation of the project proposal.
I presented the project concept and design and explained the benefits of the project for the town and its people.
Jonathan Cabasa, vice president of Inca Mariculture Plastics discussed the technical details.
The project is backed by a group of Filipino-Americans, mostly retired US Navy officers led by Samson Mante who had earlier asked me to help them invest in the Philippines.
I recommended fish cage farming in the coves and bays of Mindanao which are outside of the typhoon path.
The Philippines faces an acute fish supply problem because of the changing climate pattern which makes capture fisheries an unreliable source of supply.
Aquaculture focusing mainly on Bangus production, including Grouper, Lobster and Sea Cucumber, has proven to be profitable and reliable fish supply source for the country.
The bay in front of Parang where the huge but underutilized Polloc Port is situated, had been identified as the first investment area.
With the approval of the project by the LGU, the first module of 20 fish cages is expected to be established by Feb. 2022.
The project is designed to set up 10 modules or 200 fish cages which when fully operational could yield an annual fish harvest of 4,000 metric tons.
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