• Annual capacity: 100 tons / year
  
  
• Agar is produced from Gracilaria Verrucosa
  
  
• Chemical formula: C18 H26 02
  
  
• Pure Agar of high quality such as: Agar for medical research pharmacy and bio-technology
  

1.1 Project Basics:

1.1.1 Main Materials for processing:

- Gracilaria Verrucosa

- Gracilaria Blodgetti

Both are abundant with estimated yields of 6.000 tons per year. Those yields are related only to extensive cultivation. If alga's are cultivated with new methods and technologies (fertilizing, high quality species) higher yields and lower production costs are expected.

1.1.2 Due to low wages and raw material costs the production costs are low.

1.1.3 The producer is experienced in producing Agar-Agar from Gracilaria Verrucosa and Gracilaria Blodgett and knows how to improve the quality of the product.

1.1.4 There are rich sources of raw material, but there is a lack of funds, modern equipment and advanced technology to produce high quality Agar like pure or medical Agar or Agarose. Therefore the rapid development of this industry needs a joint venture with investment from foreign partner who owns advanced technology in Agar production.

1.2 Project target

At the present Agar is mainly produced for the domestic consumption. The target of this project is to modernize the existing domestic processing line in order to be able to produce high quality Agar.

1.3 At the international Market:

Bio-technology is a key technology in our era, where pure Agar is widely used in high demand.

The foreign partner will be responsible for oversea marketing and packing of the product.

The production standard, packing and labeling will be done in order to the requests of the foreign partner.

1.4 The feasible factors for the project

1.4.1 Available land is sufficient for the construction of a production site at the present as well as for the future expansion.

1.4.2 Electricity, Water and fuel supplies can meet all development requirements.

1.4.3 Gracilarias, the main raw material for the product is sufficient the whole year. The annual input for the joint venture processing plant is estimated with 1.200 tons.

1.5 Size of the Joint - Venture

The joint venture will be a medium size enterprise equipped with most advanced technology to ensure highest quality products.

The design of the factory should allow further expansions and the possibility to produce Agarose.

1.6 Selection of technology

Technology for processing pure Agar should be transferred or produced under license from Agar manufactures who own the most advanced technology.

1.7 Investment capital

Based on the feasibility study the estimated investment capital is approximately USD 2.5 Mio.