A seafood park has been recommended by the government company Odisha Industrial Infrastructure Development Corporation (IDCO) at Deras in Khurda district to fulfill the long standing demands of exporters and other stakeholders.
To contribute to the project the state Micro, Small and Medium Enterprise (MSME) department has agreed to provide all fiscal incentives to the sea food park developer under Odisha Food Processing Policy, 2013, the Business Standard reported.
The sea food park, which will be set up under the Mega Food Park Scheme of the Government of India, has been planned on an area of 100 acres at an estimated cost of INR 116.43 (USD 20 million), inclusive of the land cost.
The project, which would facilitate qualitative and quantitative development of the sea food processing industry, will be financed by a mix of equity contribution from the promoters, bank finance and grant assistance from Ministry of Food Processing Industries (MoFPI) and Odisha government.
The promoter would contribute 26.13 per cent of the total project cost that includes 24.62 per cent equity and 1.5 per cent margin money.
The project developers highlight that the aims are the integration of supply chain to provide fishermen market linkages, showcase state's potential and investment opportunities and demonstrate best management practices.
Further project objectives are to stress 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.