Global Ceylon SeaFoods goes for $ 7.5 m sea cage farming venture

Monday, 31 October 2022 00:05 - - {{hitsCtrl.values.hits}}

Global Ceylon SeaFoods Ltd., leading seafood exporting company in Sri Lanka, inked an agreement with the Board of Investment (BOI) to set up a sea cage farming project for the export market in Trincomalee, for an investment of $ 7.5 million.

The agreement in this regard was signed in the presence of State Minister of Investment Promotion Dilum Amunugama, BOI Chairman Raja Edirisuriya, Director General Renuka M. Weerakone and Global Ceylon SeaFoods Director Per Marius Arntsen at the newly unveiled Investor Facilitation Centre (IFC) on Friday.

Speaking at the occasion, State Minister Amunugama said: “This marks the first agreement to be signed at the IFC, which was set up to expedite and streamline investment approval process while strengthening the coordination with respective line ministries.”

The newly signed project is to generate nearly 100 employment opportunities.

Global Sea Foods Ltd., known simply as GSF, is a leading seafood processing company based in Sri Lanka.

The company is a BOI approved venture established in 1999, that supplies the high-quality value-added seafood products to destinations such as Europe, USA, Middle East and Japan to name a few. GSF can be identified as a significant source of foreign exchange income earner in Sri Lanka.

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