Indian seafood producer willing to invest $ 5 million in Sri Lanka’s aquaculture sector

An Indian seafood producer has expressed interest in investing in Sri Lanka’s aquaculture sector to boost cultivation of aquatic plants that are needed for the highly demanded shrimp farming overseas.

Coastal Corporation Limited (India), one of the leading producers and exporters of high quality aquaculture seafood products across the globe, is ready to invest US$ 5 million in cultivation of aquatic plants, the company’s representative, D. Titus Fernando said when he met with the State Minister of Minister of Fisheries and Aquatic Resources Development Dilip Wedaarachchi today at the Ministry.

In addition, the Indian investor said his company is ready to expand the mud crab aquaculture, which has a good export potential.

State Minister Wedaarachchi thanked the Indian businessman for investing in Sri Lanka and said that since the present Government is also encouraging direct investments, a program will be implemented soon to encourage investment in the fisheries sector.

In addition, Minister Wedaarachchi said that steps will be taken to expedite the provision of infrastructure facilities to the companies that are engaged in direct investment in the fisheries sector.

Courtesy: Colombo Page