February 03, 2021
Will involve building 400 deep sea fishing trawlers, port development activities, among others Kerala Shipping and Inland Navigation Corporation (KSINC) has bagged one of the major work orders worth ₹2,950 crore from a US firm EMCC International for deep sea fishing.
The project, in which an MoU was singed between N Prasanth, Managing Director, KSINC, and Shiju Varghese, President, EMCC International, consist of building 400 deep sea fishing trawlers for the fishing communities and port development activities, among others.
Currently foreign trawlers are more in use in the State. This will be one of the largest foreign investment projects in the State and in the biggest work order in the history of KSINC, officials said.
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India
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Navigation-corporation
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ஆட்டிங்கள்
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KSINC ties up with U.S. firm
The Kerala Shipping and Inland Navigation Corporation (KSINC) has tied up with U.S. firm EMCC International India Pvt Ltd. for a ₹2,950-crore project for deep sea fishing.
This is the biggest work order that the KSINC has received and is one of the biggest FDI schemes in Kerala, said Prasanth N, MD of KSINC. He and Shiju Varghese, president of the U.S. firm, inked the MoU here on Tuesday.
The MoU was inked on the basis of an agreement between the U.S. firm and the State government at Ascent 2020 investment meet. It involves construction of trawlers worth ₹400 crore by the firm in tandem with KSINC. Fishers now rely more on trawlers built outside India. Allied projects like development of harbours too will be taken up. Kerala’s fishing sector will leave an indelible mark once the scientifically-readied project becomes a reality.
India
Kerala
Pinarayi-vijayan
Shiju-varghese
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International-india-pvt-ltd
Navigation-corporation
Kerala-shipping
Inland-navigation-corporation
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