LONDON, UK — Somali businessmen are planning to build Somalia’s first fishmeal plant. Should the plan go ahead, the East African country could reap benefits from rich fisheries offshore, until now primarily fished illegally by foreign vessels.
According to sources close to the Somali government, the fishmeal plant will be built with a $600,000 investment. Investors in the plant are Somali businessmen, and the plant will be 100% Somali-owned.
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Somalia aims to tap vast offshore fish stocks with country’s first fishmeal plant