Beach Hatchery takes new project, with previous one yet to start
Its share prices rose by 9.55% to Tk17.2 each on Monday from Tk15.7 on Sunday
Agro firm Beach Hatchery Limited has started a new fish farming project even though a previous such project taken up in 2019 has not formally begun yet.
With the new project, the company has returned to production after five years, said Company Secretary Md Nur Islam.
Production remained halted since 2016 for the Marine Drive construction in Cox's bazar.
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The new project – started on Monday (28 June) as per the company' disclosure published on the Dhaka Stock Exchange website – involves cultivating white fish, such as tilapia, koi, pangas, and pabda, using the intensive culture method.
After the disclosure was published, the company's share prices rose by 9.55% to Tk17.2 each on Monday from Tk15.7 on Sunday.
It said production capacity would be around 105 tonnes per year initially with 15 concrete tanks, each having the capacity to hold 55,000 litres of water.
The production process will include hatchery and nursery units, pre-grow-out, grow-out, harvesting, and sale.
Besides, production capacity will be increased gradually in an organic way using the existing unutilised structures.
In 2019, the company was supposed to start a fish firming project using the recirculating aquaculture system technology provided by a Norwegian company on a turnkey basis.
As part of the project, it signed an agreement to lease 101.19 acres of land in Mymensingh's Trishal upazila.
"We are working on the project, but it has not formally started yet. The target was to invest Tk200 crore in it," said Nur.
Beach Hatchery produces shrimp fries and sell those in the local market. It started commercial production in 1997.
It was listed on the Dhaka stock exchange and Chittagong stock exchange in 2002.
In the 2019-20 fiscal year, the company incurred losses of Tk1.4 crore while its earnings per share (EPS) loss stood at Tk0.34, which was less than the previous fiscal year.
The company's net loss was Tk1.49 crore and EPS loss was Tk0.36 in the 2018-2019 financial year.
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