Middle East tuna joint venture

Qatar Industrial Developpement Bank (QIDB) has invited local private investors to participate in a joint Qatari-Iranian project for the production of tuna, estimated to cost US$ 10.4 million, Al-watan reports. The project will have an annual capacity of 50 million cans of tuna and 750 MT of fishmeal. The iranian investors will hold a 25 percent stake in the company. The iranians own a fish processing plant in Iran and boast 25 years of experience in the field. The iranian side also has an international distribution network and a fleet which will guarantee year-round tuna catches.