Taiwan is expected to set up an aquarium fish R&D and export center in 2011, with the goal of replacing Singapore as the leading aquarium fish exporter in Asia, a Council of Agriculture (COA) official said Wednesday. The facility, with an estimated price tag of NT$1.19 billion (US$36.96 million) , will be located in the Pingtung Agricultural Biotechnology Park (PABP) under the COA. Construction will begin in 2010 and is scheduled to be completed in October 2011, said Chen Chien-pin, head of the preparatory office of the PABP. According to Chen, the project, which will provide an integrated model for the production and marketing of aquarium fish for export, will be crucial in Taiwan's efforts to establish a niche in the global aquarium fish market, valued at US$5 billion a year. At present, Taiwan exports only around NT$100 million-worth of aquarium fish per year, while the value of exports by Singapore is 20 times greater, Chen said. He predicted that Taiwan's export value will exceed that of Singapore within five years of the center's operations. Chen said he expects the center to attract at least 20 businesses keen to set up operations there. According to aquarium company Taikong Corp., the aquarium fish market is very lucrative, which is demonstrated in the fact that a single black King Kong shrimp can cost more than NT$20,000. A new strain of the shrimp developed by Taiwan has been successfully marketed in the Netherlands, France and Germany, the company said. 