A LEADING cooperative is in the process of applying for land at the eco-aquaculture park in Sg Paku to start a grouper-breeding business.

Koperasi Badan Kebajikan Sukan Dan Sosial (BKSS), a leading co-operative affiliated with the Ministry of Health, aims to produce 200 tonnes of red groupers over four years using Ecological Recirculating Aquaculture System (ERAS), a Taiwanese technology designed to raise large quantities of fish in relatively small volumes of water, according to a source close to the negotiations.

The cooperative is one of three that have expressed interest in rearing red groupers for the Chinese market using ERAS. The source, who spoke on condition of anonymity, did not disclose further details of the business arrangement, citing that negotiations have yet to be concluded.

Sixteen land allotments at the eco-aquaculture park, ranging from 0.4 to 2.5 hectares, will be offered through open tenders to both local and foreign entrepreneurs.

A total of 1.2 acres of land is needed to breed 50 tonnes a year, according to Planet Hi-Q Marine Biotech, the master license holder for the patented ERAS technology in Brunei.

Planet Hi-Q Marine Biotech is a locally-based subsidiary of Hi-Q Biotech International, a Taiwanese firm that developed the technology.

Plant Hi-Q Marine Biotech said its technology goes well with the government's objective to breed high-value fish in Brunei, particularly with the forthcoming 40-acre eco-aquaculture park in Sg Paku, Telisai. The park aims to produce 5,000 tonnes of high-value fish yearly.

The eco-aquaculture park in Sg Paku is expected to generate around $42 million annually, and will play a vital role in achieving the Fisheries Department's annual target of $400 million in revenues by 2035. The fish-breeding aspect is expected to contribute $83 million annually to the department's target.

Equipped with basic infrastructure such as roads, electrical supply, fresh and sea water supply and telephone lines, the development of the park is expected to be completed by October next year.

Planet Hi-Q Marine Biotech has previously announced its strategic plan to produce 2,400 tonnes of red groupers in Brunei over the next five years. It is currently looking for more prospective sub-licencees for the technology.

BKSS' gross profit for the fiscal year 2007-2008 increased by 13 per cent from the previous year, and has not recorded any losses since its establishment in 1996, the cooperative's 12th Annual General Meeting heard in November last year.

As of last year the co-op has more than $1 million in assets and 1,406 shareholders, and runs a cake shop, grocery store, a restaurant, and a canteen.

It is planning on going into several other ventures, which include setting up a vanilla plantation, breeding mud crabs and setting up a tuition school. Shares are only open to employees of the Ministry of Health. The Brunei Times