Balochistan Signs Agreement for Rs1.11 Billion Commercial Shrimp Farming Project in Damb

QUETTA: The Balochistan government has signed an agreement with the House of Kasab Consortium to establish the province’s first commercial shrimp farming project in Damb, marking a major step towards attracting private investment, developing the coastal economy and creating employment opportunities for local communities.

The agreement was signed in the presence of Balochistan Chief Minister Mir Sarfraz Bugti by Saad Zahid, Chief Executive of the House of Kasab Consortium, and Tariq Qamar, Secretary of the Fisheries Department. The initiative was facilitated by the Balochistan Board of Investment and Trade (BBoIT).

Balochistan Chief Secretary Shakeel Qadir Khan and BBoIT Vice Chairman Bilawal Khan Kakar also attended the signing ceremony.

Speaking on the occasion, Chief Minister Mir Sarfraz Bugti said the provincial government was promoting investment, the effective utilisation of natural resources and economic activity through public-private partnerships.

He described the Damb shrimp farming project as an important part of these efforts, saying it would help utilise coastal resources, strengthen the local economy and open up new opportunities for commercial aquaculture.

The chief minister said Balochistan’s extensive coastline offered considerable potential for economic development, aquaculture and exports. He stressed the need to transform these resources into productive economic activities through modern techniques, private investment and effective planning.

He added that the shrimp farming initiative would introduce a new commercial activity in the province and could pave the way for the expansion of the aquaculture sector in the future.

100 Per Cent Jobs Reserved for Local Residents

Mir Sarfraz Bugti emphasised that economic development would be meaningful only if its benefits reached local communities.

He described the commitment to provide 100 per cent of the jobs associated with the Damb project to local residents as a significant step towards improving livelihoods in coastal areas and increasing community participation in economic activities.

The chief minister said the provincial government would continue encouraging initiatives that utilise local resources to generate employment, attract investment and enhance productive capacity.

Rs1.11 Billion Private Investment Planned

According to officials, the private sector will invest Rs1.11 billion in the project. The initial phase will involve the establishment of a commercial shrimp farm on 50 acres of land, with the potential to expand the facility to 100 acres or more in the future.

The project aims to promote the production of export-quality shrimp and develop Balochistan’s aquaculture industry.

Under the agreement, the Balochistan government will provide land valued at Rs75 million and electricity facilities valued at Rs400 million, bringing the total value of government support to Rs475 million.

The provincial government’s overall equity stake in the project will be 20 per cent. This will comprise 10 per cent free equity secured through competitive bidding and another 10 per cent paid equity in consideration of the land and electricity facilities provided by the government.

The government is expected to earn Rs866 million in profit over the project’s 20-year operational period.

Project to Be Transferred to Government After 21.5 Years

The project will have a total concession period of 21 years and six months. This will include six months for financial arrangements, one year for construction, and 20 years for operation and maintenance.

Upon completion of the concession period, the project and all its assets will be transferred to the Balochistan government.

BBoIT Vice Chairman Bilawal Khan Kakar said the shrimp farming initiative would be significant for the provincial economy. He expressed confidence that the project would encourage investment, create employment opportunities for local residents and help generate economic benefits from the province’s coastal resources.

The agreement represents an effort by the provincial government to attract private-sector participation in aquaculture and turn Balochistan’s coastal potential into a sustainable source of economic growth and employment.