Korea’s largest tuna company Dongwon has proposed to build a multi-million dollar tuna cannery and loining plant at Doma, West Guadalcanal, Solomon Islands.

Dongwon Industries, one of the world’s leading tuna fishing companies, revealed its SB$ 250 million (USD 34.3 Million) investment proposal to the newspaper Solomon Star Saturday.

Company adviser, Ju-hyuk Daniel Kwon, is in Honiara this week to meet local officials.

“I will be meeting with finance and fisheries officials as well as those from Guadalcanal Province to relay our investment proposal,” Mr. Kwon said.

He said the Korean government and Dongwon Industries are willing to be partners in this investment to assist Solomon Islands develop its tuna fisheries sector and build its economy.

“We believe this is a great opportunity for Solomon Islands since this is a rich fishing nation.

“Investing in such a huge project will benefit the people and the economy by providing more job opportunities, bring in foreign currency and improve the standard of living,” Mr. Kwon said.

He added that this investment includes the construction of a wharf, two coldstorages, a cannery and a loining plant.

“This will be similar to the Noro cannery (in Western Province) but will be bigger and will provide more opportunities and benefits to the local people and economy.”

The company adviser said their target market is in Europe and they believe it will be a milestone achievement for the country to develop such an onshore investment to get the maximum benefit of its tuna resources.

“Our company is ready to come in at anytime. However, that will depend on the national government’s decision and the Guadalcanal provincial government on how quickly they respond and finalize the process.”

Mr. Kwon said he hoped his mission to the Solomons will be fruitful and that both governments will support this huge investment.

“This country’s fisheries sector has a very bright future, and this proposed investment is just the beginning of more to come,” Mr. Kwon said.