The Development Bank of the Philippines (DBP) has granted a P10-million term loan to Kauswagan Sang Isla Sibuyan Enterprise Ltd. to finance the development of a 1.2-hectare modern aquaculture project for the production of quality grouper (lapu-lapu) fingerlings.
To be located in the Municipality of Cajidiocan, Sibuyan Island, Romblon, the project will produce grouper fingerlings using “fixed cages in pond” technology for appropriate management and control. It is expected to produce 750,000 grouper fingerlings per year, to be sold to grouper growers in the provinces of Quezon, Pangasinan, and Zambales.
As the first modern aquaculture project in Sibuyan Island, the project is expected to spur the development of ancillary industries including ice plant and cold storage, packing, transport, and banking services in the island. It is also expected to boost the aquaculture industry in the region.