KARACHI: Pakistan’s TECNO Group and Chinese MAYCOM Group will invest $12 million to establish a joint fishmeal processing plant at Gwadar Port in Pakistan’s Balochistan province, Pakistani state media reported on Wednesday.
The agreement for the joint venture was signed during Prime Minister Shehbaz Sharif’s visit to Beijing last week, amid Islamabad’s efforts to boost seafood exports from the underdeveloped coastal regions in Pakistan.
The fishmeal project will source sardines and other fresh fish from the Arabian Sea near Gwadar to produce feed-grade fishmeal and fish oil for aquaculture markets in southeastern China, APP reported.
“Under the partnership, TECNO will hold a controlling stake in the joint venture, which also includes the third-party company, CYCLON, and will oversee local resource procurement and production in Pakistan,” the report read.
A fishmeal processing plant converts raw fish and trimmings into protein-rich fishmeal and fish oil, mainly used in animal feed for poultry and farmed fish.
MAYCOM will provide technology and oversee sales operations for the two-phase project, with the first phase requiring an initial investment of $4 million to produce an output of 15,000 tons, according to APP.
Pakistan has set a seafood export target of $600 million for the 2025–26 financial year. The country’s fisheries sector generated $465 million in earnings during FY 2024–25, according to government data, with China remaining the largest buyer.
The two groups also signed a procurement deal for 10,000 tons of Pakistani sesame seeds. They agreed to export peanuts, cottonseed and mineral products from Pakistan to China in return for Chinese solar panels, energy storage systems and new energy products.
