Monday, 7 March 2011 8:13 AM

Renbel Province Approves JV Plans with South Korean Company

The Rennell-Bellona Provincial government has approved a plan to form a joint venture with a South Korean company to catch and market tuna overseas.

The Province's Clerk to the Provincial Assembly and media officer reports from Tingoa that the assembly agreed on the proposal at its third meeting held last week.

The media officer says the provincial government will work with the Ministry of Foreign Affairs and External Trade to pursue the investment proposal.

He says the Rennell-Bellona Provincial government believes the province has one of the best fishing grounds in the country to ensure that the proposed tuna fishing joint venture is a success.

The Renbel Province media officer says the province also believes that if the arrangement eventuates, the venture will boost the province's economy.