The proposal has been made by the state government’s owned Odisha Industrial Infrastructure Development Corporation (Idco).
Under the proposal, the sea food park would be set up under the central government’s Mega Food Park Scheme that will come up with an area of 100 acres with an estimated investment of $20 million.
Of $20 million in investments, $6.10 million will be spend on basic infrastructure, while $8.21 million will be invested on developing processing facilities that includes buildings, plant & machinery and miscellaneous fixed assets.
The project will be financed by a mix of equity contribution from the promoters, bank finance and grant assistance from MoFPI and Odisha government.
The promoter would contribute 26.13 per cent of the total project cost.
There has been demand from Seafood Exporters Association of India (SEAI) (Odisha region) for setting up a seafood park Deras farm on the Pitapalli-Chandaka highway for a long time.
The establishment of the seafood park will result in better value addition of fishery products and reduce the wastage which is around 15 per cent, at present.
"As the nodal department dealing with food processing industry in the state government, the present proposal is strongly recommended for approval under the revised Mega Food Park scheme notified on February 10, 2014," Panchanan Dash, secretary, MSME (micro, small & medium enterprises) wrote to Nirak Kumar Gayagi, director, Union ministry of food processing industries (MoFPI).
The state MSME department will provide all fiscal incentives to the sea food park developer under Odisha Food Processing Policy, 2013 that has already agreed upon.
The park objectives is integration of supply chain to provide fishermen market linkages, showcase the state's potential and investment opportunities, demonstrate best management practices, highlight successful business models, address supply chain and infrastructure related issues, increase income levels of fishermen by linking them with demand side of the food chain and provide a platform for industry interaction and trade facilitation.
The proposed seafood park would facilitate qualitative and quantitative development of the seafood processing industry.