(SeafoodSource) Simon Coveney, Ireland’s agriculture, food and marine minister, on Friday announced EUR 15.5 million in investments in the country’s seafood processing sector, supported by EUR 3.2 million in grants under the EU co-funded Seafood Processing Business Investment Scheme.
Made by 21 companies, the investments are projected to generate more than 142 jobs and increase sales of value-added seafood products by nearly EUR 44 million by 2015. The companies include Sofrimar Ltd., Kilmore Fish Co. Ltd., Dunns Seafare Ltd., Atlantis Seafoods Wexford Ltd. and Shellfish De La Mer. The scheme is administered by Bord Bia (Irish Food Board).
This is a significant increase from 2011 and 2010 when EUR 7 million and EUR 2.7 million, respectively, were invested.
“This is a very sizeable investment by any standards and particularly so when combined with investment under this scheme over the past two years,” said Coveney.
“It demonstrates the confidence in the seafood sector as a high growth area of our economy and of our food industry,” he continued. “The SMEs undertaking this very welcome new investment represent the future of the seafood industry. The new investment involves companies significantly growing their businesses and also diversifying, which will lead to increased profitability and increased employment. The investment also builds on the very positive announcements made earlier this week in the beef sector and the further development of trade links with China. The number of companies participating in the scheme demonstrates the willingness of the sector to invest to meet the strong global demand for our seafood.”