Assentfort Aqua, a Danish corporation, has joined with PRAN-RFL Group to guarantee the industrial-scale modernization of Bangladesh’s fishing industry. This project will provide a specialized facility for fish rearing employing intensive techniques in completely controlled indoor or closed conditions.

The facility will make use of cutting-edge Recirculating Aquaculture System (RAS) technology, which guarantees high-density fish production while lowering environmental impact through water purification and reuse.

A Memorandum of Understanding (MoU) for this purpose was signed on January 22 at PRAN Center in Dhaka. The project will be implemented by Habiganj Agro Limited, a subsidiary of PRAN-RFL Group, with an initial investment estimated at €30 million, or approximately BDT 4,290 crore. The proposed factory will be established in the Mirsarai Economic Zone or another suitable location, with the investment planned to be completed in several phases over the next two years.

The primary focus of the project will be the farming of Asian sea bass (coral fish). However, there is also scope for the future cultivation of high-value species such as grouper and hilsa. Each farmed fish will be marketed once it reaches a weight of 1,200 to 1,500 grams. Most of the produced fish will be exported, while a portion will be supplied to the local market.

Once full-scale production begins, the facility is expected to produce around 2,000 tons of fish annually. PRAN Group’s Managing Director Ilias Mridha stated that this initiative will make industrial-scale production of coral fish possible in Bangladesh for the first time. Jens Ole Olesen, Business Development Director of Assentfort Aqua, expressed full confidence in the partnership, noting that with funding from the Danish government and the support of modern technology, the project will bring a major transformation to Bangladesh’s fisheries sector.

Such large-scale investment and export potential send a positive signal for the national economy. Especially in the current fiscal year, the project could play an important role in earning foreign currency. The success of this sector may also increase interest among stock market investors in the related companies, and in the long run, it is expected to have a positive impact on business cash flow and profitability.