The French Polynesian president has clarified last week's co-operation aquaculture agreement signed with the Chinese company, Tian Rui, saying all fishing permits will be held by locals.
Gaston Flosse says a new entity will be formed, called Tahiti Nui Marine, which will concentrate on fish farming in Makemo in the Tuamotu islands and not as previously planned in Hao.
The deal provides for the Chinese partner to invest about 110 million US dollars a year for 15 years, creating at least 1,000 jobs.
Mr Flosse has told local television that the Chinese investor will be providing the equipment, including vessels, to French Polynesians, who in turn will sell their fish for export.
He says in difference to the arrangement envisaged by the previous government, the concessions for the fish farms will all be held by French Polynesians.
