Two fish farming facilities that had been given up by firms exiting the local aquaculture industry have been acquired by local companies to pursue new farming ventures, The Straits Times has learnt. One is a $65 million eight-storey vertical farm once owned by Apollo Aquaculture Group, which ran into financial difficulties in 2022
It has now been taken over by AquaChamp, a land-based fish farm operator, and local construction and engineering firm HPC Builders. The building at Neo Tiew Crescent in Lim Chu Kang will be used to grow vannamei prawn and food fish.
The other farming facility – open-net cages in Singapore's southern waters once owned by Barramundi Group – will be taken over by Singapore Aquaculture Technologies (SAT), which operates indoor floating farms in the Johor Strait north of the mainland. While its fishes are currently fully reared in closed-loop recirculating aquaculture systems on floating barges, SAT intends to shift to a hybrid farming model when it acquires the deep-sea cages off St John's Island.
The latest developments show continued interest among local firms in producing food in Singapore, despite the setbacks plaguing the sector, with multiple farm closures reported since 2022.
Read more at The Straits Times
