SURAQ and ABSA
Description: Start up P. monodon farming with maturation, hatchery, recirculating farm, and processing plant.
Service Provided: Hired by a division of Barclays Bank in South Africa, ABSA, as an independent aquaculture expert to evaluate the viability and feasibility of the project from all aspects, including economic, engineering, biological and personnel perspectives. This was a pre-project completion audit for a lending institution to ensure compliance with loan requirements. The project was evaluated from a technical standpoint as well as from the standpoint of being able to meet the banks requirements to repay the loan. Project was a 100 ha recirculating high density shrimp farm planning on producing P. monodon. Included were a farm, maturation facility, hatchery and processing plant. There were several serious problems with the farm including the location, plans to use a river as a low salinity source of water, source of broodstock, engineering company that misjudged complexity of the tasks involved and personnel problems. Despite my suggestions that the project could work, funding was withdrawn due to inadequate project oversight resulting in a failure to meet the banks deadlines for financial audits.