Telia: Two new licenses for operation of fisheries
13/9/2005 10:01
In order to fully inform the investing public, we wish to announce that our company was the successful bidder for the granting of 2 new licenses, following the submission of the bids to the Department of Fisheries and Marine Research of the Ministry of Agriculture, Natural Resources and Environment as follows:
1. Granting of license for the establishment and operation of a fishery in the sea space of the Republic of Cyprus for the breeding/fattening of tuna.
2. Granting of a license for the establishment and operation of a fishery in the sea space of the Republic of Cyprus for the breeding/fattening of gilthead bream, bass fish and other endemic kinds.
By September 26, 2005, our Company will sign agreements with the DFMR, which will be contracts for the exact execution of projects.
At a later stage, when our company will have secured all necessary licenses and approvals, it will apply to DFMR to obtain the licenses above. After the approval of the applications, our Company will submit the sums of £260,000 and £60,000 to DFMR.
The Board of Directors of Telia Aqua Marine Public Ltd believes that the sector of fish culture for the breeding/fattening of tuna has prospects for a further development in Cyprus. The strategic cooperation that our company has achieved with companies that are actively involved in the sector abroad, will safeguard the profitability of the new business activity.
The Board of Directors also believes that the economies of the scale, which will be achieved by the establishment of the new gilthead, bream and bass fish fishery fall under our Company’s strategic to maintain a low production cost and improve its profitability.
The expansion of the Company’s operations is significant for the increase in the Company’s profits from late 2006 onwards.
1. Granting of license for the establishment and operation of a fishery in the sea space of the Republic of Cyprus for the breeding/fattening of tuna.
2. Granting of a license for the establishment and operation of a fishery in the sea space of the Republic of Cyprus for the breeding/fattening of gilthead bream, bass fish and other endemic kinds.
By September 26, 2005, our Company will sign agreements with the DFMR, which will be contracts for the exact execution of projects.
At a later stage, when our company will have secured all necessary licenses and approvals, it will apply to DFMR to obtain the licenses above. After the approval of the applications, our Company will submit the sums of £260,000 and £60,000 to DFMR.
The Board of Directors of Telia Aqua Marine Public Ltd believes that the sector of fish culture for the breeding/fattening of tuna has prospects for a further development in Cyprus. The strategic cooperation that our company has achieved with companies that are actively involved in the sector abroad, will safeguard the profitability of the new business activity.
The Board of Directors also believes that the economies of the scale, which will be achieved by the establishment of the new gilthead, bream and bass fish fishery fall under our Company’s strategic to maintain a low production cost and improve its profitability.
The expansion of the Company’s operations is significant for the increase in the Company’s profits from late 2006 onwards.
