independent

Friday 17 August 2018

Two Wexford seafood businesses receive funds

Minister Michael Creed
Minister Michael Creed

Esther Hayden

Two Wexford seafood businesses received grant aid last week.

Sofrimar in Kilmore Quay and Jade Ireland Seafood which has a registered address at Sofrimar Limited, Kilmore Quay both received funding under the European Maritime and Fisheries Fund Operational Programme for the seafood sector.

Minister Michael Creed announced national funding of €4,863,643 to 26 seafood enterprises and three research institutions.

Under the Seafood Processing Capital Investment Scheme Sofrimar will receive grant aid of €130,573 as part of an overall investment of €804,095 into sustainability and waste management at the company.

Under the Seafood Scaling and New Market Development Scheme Jade Ireland Seafood Ltd, which has a presence in Donegal, Wexford and Cork, secured €38,925 as part of an overall investment of €155,700 for development of China, Hong Kong and Taiwan markets.

The grant awards will support total investment of €13 million in capital investment, applied research and marketing in the aquaculture and seafood processing sectors.

Minister Creed said: 'These are precisely the types of investments we need to see coming forward and they can positively contribute towards achievement of our growth plans for the aquaculture sector. I am also very pleased with the continuing commitment of the seafood processing sector to investing in value-adding. Increased investment in value added products in our seafood processing industries improves the competitiveness of those companies and increases the returns to our fishing fleet.'

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