Investments In Aquaculture & Seafood Companies Reach €6.5m

Minister for Agriculture Food and the Marine, Michael Creed T.D., has announced a funding award of €2,369,801 for 17 seafood enterprises in nine different counties.

It comes under the European Maritime and Fisheries Fund Operation Programme for the seafood sector. The grant awards will support total investment in these companies of €6,472,909 in the aquaculture and seafood processing sectors. 

Minister Creed commented: "I am delighted to say that, despite uncertainties created by Brexit over the past two years, there is still strong confidence in our seafood sector about its future growth prospects. The 17 seafood enterprises that are investing €6.5 million this year with assistance from the Department of Agriculture, Food and the Marine's European Maritime and Fisheries Fund supported Programme are evidence of that strong confidence in the sector and the Government is supporting that confidence. These companies are seizing the market opportunities that are there in abundance for quality Irish seafood products. This is particularly true for companies like Keohane Seafoods from Cork, which is undertaking a major €3 million investment to double its salmon production capacity at its plant in Bantry."

Minister Creed added: "My Department is assisting ambitious seafood enterprises with many exciting growth projects through generous EMFF financial supports, available through BIM for seafood enterprises to grow their output, add value to their products and develop and diversify their markets worldwide. In this announcement, Seafood companies in Cork, Kerry, Clare, Galway, Mayo, Donegal, Louth and Monaghan are being supported to drive forward the development of their companies with innovation and technological development, thereby creating further value-added from our high quality primary seafood products."

The grants are co-funded by the Government of Ireland and the European Union and are subject to terms and conditions.



(JG/CM)