WEDNESDAY, OCTOBER 19, 1977
6 -
GOVERNMENT GRANTS $1.3 MILLION LOAN TO FISHERMEN
*.****
THE AGRICULTURE AND FISHERIES DEPARTMENT TODAY AWARDED A $1.3 MILLION LOAN - THE LARGEST GRANTED TO DATE - TO THE ABERDEEN MECHANISED TRAWLER FISHERMEN'S CREDIT CO-OPERATIVE SOCIETY, UNLIMITED. THE LOAN IS TO ENABLE THE SOCIETY TO LEND THE MONEY TO TWO OF ITS MEMBERS FOR BUILDING A PAIR OF 86-FOOT MODERN TRAWLERS.
AT A LOAN AGREEMENT SIGNING CEREMONY, THE DIRECTOR OF AGRICULTURE AND FISHERIES, MR. EDWARD NICHOLS PRESENTED A CHEQUE FOR $1.3 MILLION TO THE CHAIRMAN OF THE SOCIETY, MR. YIP KAM-HUNG.
THE LOAN HAS BEEN GRANTED UNDER THE GOVERNMENT'S FISHERIES DEVELOPMENT LOAN FUND (FDLF) ADMINISTERED BY THE AGRICULTURE AND FISHERIES DEPARTMENT.
THE GOVERNMENT HAS SO FAR ALLOTED A TOTAL OF $11.8 MILLION TO FDLF FOR THE DEVELOPMENT OF LOCAL FISHING FLEET,
THE FUND HAD PREVIOUSLY FINANCED THE BUILDING OF SIX PAIRS OF TRAWLERS IN THE PAST 12 YEARS, AND OF THE LOANS GRANTED, SO FAR $9.1 MILLION HAS ALREADY BEEN REPAID.
THE TRAWLERS TO BE BUILT UNDER THE $1.3 MILLION LOAN WILL HAVE A SERVICE SPEED OF 10-1/2 KNOTS, A TRIP ENDURANCE OF 16 DAYS AND AN INSULATED HOLD CAPACITY OF 2,000 CU. FT. FOR THE STORAGE OF 350 TO 400 PICULS OF ICED FISH.
+
THE TOTAL COST OF BUILDING AND EQUIPPING THE VESSELS WITH NAVIGATION AND SAFETY GEARS, INCLUDING FOR THE FIRST TIME AN INFLATABLE LIFE-BOAT AND FISHING GEAR, WILL BE $1.63 MILLION OF WHICH THE OWNERS WILL PROVIDE THE BALANCE IN EXCESS OF THE LOAN AMOUNT.
THE VESSELS WILL BE BUILT TO THE DESIGN AND SUPERVISION OF TECHNICAL STAFF IN THE FISHERIES DEVELOPMENT DIVISION OF THE AGRICULTURE AND FISHERIES DEPARTMENT AT YARDS ON TSING Y! ISLAND AND IN SHAU KE WAN.
A SPOKESMAN FOR THE AGRICULTURE AND FISHERIES DEPARTMENT SAID:
+WHILST MANY OF HONG KONG'S NEWER FISHING VESSELS ARE BUILT WITH THE FISHERMEN'S OWN OR OTHER PRIVATE FINANCING AND TO THEIR OWN SPECIFICATIONS. THE DEPARTMENT'S DESIGNS HAVE BEEN WELL ESTABLISHED AS MODELS FOR THE FLEET AND ARE KEENLY OBSERVED BY PROGRESSIVE FISHERMEN.+
17