Economic analysis of Joint Venture Arrangements Kiribati
Asian Development Bank ADB - Project Dates:
May 2018 - August 2018
Description of Project: Poseidon, contracted through Vinstar (http://www.vinstar.com), and funded by ADB, undertook an assessment for the the Government of Kiribati of fishing joint ventures. The joint ventures involved purse seine tuna vessels with the JV company owning and operating vessels. The work included
Fact finding including a review of the relevant legal agreements and financial results;
Reviewed the more technical aspects of the issue including consideration of whether the results (costs, catch and profit/loss) are reasonable and whether there is, amongst other concerns, deliberate under-reporting of catch/income or overcharging of costs.
assisted with advice on a substantial joint venture for a fishing support base and tuna processing factory based on Kiritimati Island, supported by long line and purse seine vessels and with milk fish farming at Tarawa for bait.