When social media gets shut down; what next for Total; and a proposed merger of two seafood companies. Your weekly digest of the latest business news.
Majestic Seafood Limited
An expanded wharf, increased tuna output, boat replacements and a new blast freezer are part of tuna processor Frabelle’s development plans. But reducing costs is also important, as Frabelle’s Melinda Ragudos tells Business Advantage PNG.
While Papua New Guinea’s economy has slowed in the past year, many of the country’s manufacturers continue to see growth as the longer-term trend, and are investing in new plant, new products and new marketing approaches.
Lae-based Frabelle Fishing Corporation is one of the major partners behind the Majestic Seafood venture, which opened earlier this year. But, as Frabelle’s James Johnston tells Business Advantage PNG, the company has big expansion plans of its own too.
Lae is set to become the South Pacific’s main fish processing centre, with the opening of one massive new cannery this week, the commencement of construction for another, with more on the drawing board.
The northern coast of Papua New Guinea is experiencing a boom in investment from international companies looking to process fish onshore. Samantha Magick examines why.
Fisheries has emerged as one of Papua New Guinea’s most dynamic sectors, following a wave of investment from Asia. In this special feature, Samantha Magick speaks with some of the sector’s key players about its current state and the prospects for further expansion.