Aquafarm 1 (AF1) was acquired by Tri-way Industries, Ltd. as part of SIAF's carve-out of aquaculture operations. AF1 represents our typical development model and is built on a block of land measuring 9,900 square meters that contain staff quarters providing accommodation for up to 15 workers, a self-contained office, a laboratory, external live bait holding tanks, all season red worms nurturing tanks, dry and cold storage, workshops, processing facilities, a heating room, 500 MT of water holding tanks, landscape gardens, standby generator rooms, all related underground and above ground infrastructure, and a 4,000 square meter fish grow-out farm supporting 16 RAS tanks, each measuring 10 m x 10 m x 3 m in depth holding up to 240,000 liters (or 240 Metric Tons (MT) of water with the production capacity to grow up to 80 MT of aquatic animals per year depending on its stocking cycles (or frequency of stocking of fish) and the initial size of the fish being stocked in each cycle.
Currently, AF1 grows sleepy cod, Flower Pattern eels, prawns (or shrimp), and other fish species. AF1's operations are expected to produce up to 2,000 metric tons of seafood annually.
AF1 was formerly known as Jiangmen City A Power Fishery Development Co., Ltd., JFD, Fish Farm 1 or FF1.
View of APRAS tanks inside Aquafarm 1 (AF1)
Offices on the Aquafarm 1 campus
Workshops on the Aquafarm 1 campus
Another view inside the "superdome"
This venture, formerly known as Enping City Bi Tao Power Prawn Culture Development Co., Ltd. (EBAPFD), is Sino Agro Food's first production fish farm. Formed on February 11, 2011, Enping City Bi Tao Power Prawn Culture Development Co., Ltd., was a joint venture prawn farm project that adopted the use of Capital Awards A Power Technology.
On November 17, 2011, TRW formed Jiang Men City A Power Fishery Development Co., Limited (JFD) in which it acquired a 25% equity interest, while withdrawing its 25% equity interest in EBAPFD. As of December 31, 2011, the Company had invested $1,258,607 in JFD. JFD operates an indoor fish farm. On January 1, 2012, the Company acquired an additional 25% equity interest in JFD for total cash consideration of $1,662,365. As of January 1, 2012, the Company had consolidated the assets and operations of JFD. On April 1, 2012, the Company acquired an additional 25% equity interest in JFD for the amount of $1,702,580. Until the Tri-Way carve-out, SIAF owned a 75% equity interest in JFD, representing a majority of voting rights, and controlled its board of directors.