BOI Chairman Susantha Ratnayake (left) presneting the Certificate of Registration to Suganth Seafood Managing Director Suganthaseelan Arvinthan
Sri Lanka will see the setting up of a sea cucumber processing plant in Jaffna with the Board of Investment (BOI) having inked an agreement with a local entity.
The plant which will be operated by Suganth Seafood (Pvt) Ltd will process the marine animal for export market. Sea cucumbers are of high demand in China and the Southeast Asian region.
The project will kick-off with an initial investment of US $ 1.2 million and will facilitate the processing of sea cucumbers from farming to the drying stage in a state-of-the-art factory.
As sea cucumbers are harvested mostly in the North and East sea belt, the facility will be established in the Jaffna peninsula.
Sharing insights on the upcoming project, Suganth Seafood Managing Director Suganthaseelan Arvinthan said the the facility will strictly adhere to the government norms, eco-conscious methodologies, transparent business practices, and on time delivery.
"The company intends to expand the business gradually thus providing more job opportunities to the local communities and enhancing their livelihood," he added.