Sri Lanka firms plans $200m shrimp farms in Nigeria

The Fish Site
by The Fish Site
19 April 2007, at 1:00am

SRI LANKA - Sulalanka Nigeria Ltd, said it has concluded plans to lead a consortium of foreign firms, based in Sri Lanka to invest about $200 million in the nations aquaculture shrimp farm, in southwestern part of the country.

According to the company’s Managing Director /CEO, Mr Upali Karaunaratna, the investment would provide an opportunity for the country branded shrimp to have a niche in the international market and that most of the shrimps imported from Nigeria are not branded.

He said farmers in the programme will be trained and assisted to set up their farm through proper supervision and that the company would adopt a buy method of products at maturity.

“The stake of the company is to provide the farmers with the ponds, materials, pond lining, feeds, stocking, chemical and adequate supervision from stocking to maturity,’’ he said.

He said that the coastal area is advantageous for the project and that arrangements had been made to ensure that inter land farmers were provided with water recycling ponds powered by solar energy and backed with generator sets and gas. The technique, according to him, is zero exchange, environmental friendly and that water would be a recycling system

“The repayment of the loan,” he said, would be in three years and that the stocking of the shrimp to maturity would be between two to three months to enable the farmers have several turn-over.

Source: Vanguard