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Johannesburg - Sekunjalo Holdings will invest R200m in expanding its subsidiary Premier Fishing to become a perlemoen (abalone) leader in the southern hemisphere, Business Report reported on Tuesday.
The investment would be done through subsidiary Sekunjalo Investment, whose aquaculture assets include Atlantic Abalone, near Gansbaai, which is reportedly one of the biggest perlemoen farms.
Premier has long-term fishing rights in south and west coast lobster, pelagic fish and squid.
Sekunjalo Investments chief executive Khalid Abdulla said the R200m investment in aquaculture would predominantly be used for perlemoen.
"We have decided to invest in this part of the business because we are unable to keep up with abalone demand internationally," he was quoted as saying.
Tender award was irregular - Madonsela
Premier Fishing's chief executive Samier Saban said they would buy more land in Gansbaai, and new equipment.
He believed the project would create over 200 jobs in the Overberg area.
Public Protector Thuli Madonsela found in December last year that the awarding of a fisheries tender by the agriculture, forestry, and fisheries department to Sekunjalo Marine Services Consortium was irregular.
