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US-based Fishin' Company to invest Rs 1,000 crore in Telangana
US-based Fishin' Company to invest Rs 1,000 crore in Telangana
- Project will generate direct employment for 3,000 persons; another 2,000 will benefit indirectly
- KTR thanks team for choosing Telangana as their investment destination Company CEO: It would be world’s largest freshwater aquaculture project
Hyderabad: One of the largest importers of Tilapia variety of fish in the world and importer of frozen food into the US, The Fishin' Company has announced an investment of Rs 1,000 crore in the State.
It is to invest in a fully integrated freshwater fish culture ecosystem, including hatcheries, feed manufacturing, cage culture, processing and exports.
The announcement was made after visiting Minister KT Rama Rao's meeting with the company CEO Manish Kumar and the team in San Jose (US). The project is to be located at the Mid Manair Reservoir in Rajanna-Sircilla district and. It is to produce 85,000 MTs of Tilapia fish a year using cage culture methodology. The project will generate direct employment for 3,000 persons. Another 2,000 would benefit by indirect employment. The minister appealed to the company to give preference to local fishermen and Mid Manair Project displaced households while hiring.
Company chairman and CEO Manish Kumar, son of Padma Bhushan awardee Siva K Kumar, stated it would be the largest freshwater aquaculture project in the world. KTR thanked the team for choosing Telangana as their investment destination.
He assured the State government's cooperation to the company. The government's investment in the agriculture and irrigation sectors was bearing fruit. The State is witnessing a second green revolution and a blue revolution, KTR stated.
