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$20 Million Joint Venture in Shrimp Farming


In Tehran, on July 2, 2017, Majid Movafeq, chairman of Iran Feed Industry Association, said Iran’s Hormoz Dam Company and France’s Crusta’C and Du Ble Au Soleil SASU companies signed a joint-venture contract worth $20 million for the farming and export of 1,000 tons of shrimp annually.  “The share of capital each side brings to the table is not stipulated precisely in the contract, yet the French sides have undertaken to transfer the latest technology in the field to their Iranian counterpart, and this is what we are mainly after,” Majid Movafeq-Qadiri said.


In 2016, the companies cooperated in a trial, which led to the export of 200 tons of shrimp.  Now they have agreed in to form a joint-holding company called “Crustapars,” which will also be used as a brand name.  It’s the first time in the history of Iranian shrimp farming that breeding, hatching, feeding, farming, processing and marketing have been brought together in one company.


Ali Akbar Khodaei, the head of Iran’s Seafood Exporters Union, said, “Over 20,000 tons of shrimp were produced in Iran in the year ending on March 20, 2017.”  About 14,000 tons were exported to the European Union, Russia, Southeast Asian, Vietnam, China and Persian Gulf countries.  He noted that those numbers were expected to rise to 30,000 and 20,000 tons, respectively, in the year ending on March 20, 2018.


Source: Financial Tribune (the first Iranian English Economic Daily).  Iran, France Enter Joint Venture for Shrimp Production.  Zeinab Sohrabi.  July 3, 2017.