• BoI OKs P18-M eel farm project in Leyte

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    THE Board of Investments (BoI) said on Thursday it has approved an P18-million live eel farming facility project in Hindang, Leyte which is set to provide more employment and income opportunities for Filipinos.

    “Though grown in Cagayan Valley, the proponents of the project decided to locate in a least developed area such as Leyte in an effort to help in the post-Super Typhoon Yolanda [international name: Haiyan]recovery initiatives in the Eastern Visayas region,” Trade Undersecretary and BoI Managing Head said.

    The project was approved in April and the proponent is Oceans Ace Philippines Export Import Corp.

    The eel farming facility will have a capacity to culture up to two million pieces annually for export to Japan and Korea. Commercial operation is expected to start this month with 25 workers manning the facility.

    Young eels known as elvers (glass eels or fry) will be sourced from local fishermen in Cagayan Valley, since elvers prefer big rivers or wide areas of water such as the Pacific Ocean. The elvers are then placed in farm tanks in the Leyte facility with the best possible conditions for growth by providing high quality feeds to reach the desired size.

    The grown eels will be exported in boxes of approximately eight to 10 kilograms each. The types of eel to be farmed in Leyte are the Anguilla Japonica and Anguilla Bicolor/Pacifica species.

    According to the BoI, the 1,500-square meter facility will be equipped with 24 farm tanks, two back-up generators, two aquariums, a feed mixer and a sorting table.

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