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February 4, 2016

China/United Kingdom

SinoFortone Invests in Wales Power Plants

 

The SinoFortone Group, a Chinese investment group, will invest $2.9 billion in two innovative power plants in Wales that have shrimp farming components.  Waste heat from the power plants will be used to warm water for “king prawn” [probably Penaeus monodon] farms.  The projects are being developed by Orthios Eco Parks and will be located in Holyhead and Port Talbot, Wales.

 

Speaking to the BBC, chief executive of Orthios, Sean McCormick, said, “We have spent five years researching and developing this model and the investment from China will help us roll it out across the planet.”

 

SinoFortone is a privately owned investment company, but its investment in Wales has been backed financially by the Chinese state.

 

SinoFortone Group chief executive Dr. Peter Zhang said, “We see this as a ground changing model that many countries will benefit from and are delighted to be teamed with the Orthios team.”

 

The Holyhead facility could be operational in 2017, while the Port Talbot facility is expected to become operational in three years.

 

In Port Talbot Othios and SinoFortone Group are working with Associated British Ports on the proposed project.

 

Source: Aquafeed.com (a free, online newsletter about the feeds used in fish and shellfish farming).  Editor, Nicki Holmyard (editor@aquafeed.com).  Investment Group SinoFortone Confirms £2bn Finance for Energy and Shrimp Production Centres in Wales with Plans to Roll Out the Technology Globally.  February 2, 2016.

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