First marine fish farm for Sri Lanka
The agreement was signed by Irfan Thassim, Founder and Director of Oceanpick and Lakshman Jayaweera, Chairman of the Board of Investment of Sri Lanka.
Oceanpick has signed an agreement with the Board of Investment in Sri Lanka for the country’s first oceanic farm for finfish.
The company will initially produce Barramundi or Asian Sea Bass (locally referred to as Modha) and will set up farms in the open sea off the Trincomalee coast. This is the first such cage system to be set up in the country and will be partnered by a Scottish farming company. Oceanpick plans to reach nearly 1,000 tons over the next few years and the project will begin in August.
The total investment of this project is around US$2.5 million and will provide over 100 job opportunities and a new avenue for graduate training, whilst paving the way for import substitution and developing of a value added product. It could also trigger growth of several other related businesses, including feed manufacture.
Previous attempts at aquaculture in Sri Lanka have mostly been concentrated in brackish water lagoons, fresh water bodies or in land based ponds. However, Oceanpick has recognised the superiority of sea grown produce and has chosen pristine locations in the Trincomalee open seas for its activities.