US-based Fishin’ Company will invest Rs 1,000 crore in Telangana to develop fish hatcheries, set up feed manufacturing units and generate exports.
Industries, IT and Commerce Minister KT Rama Rao made the announcement during his visit to the US on Thursday (March 24). Rao is leading a team of officials on a week-long visit to the United States to attract investors to Telangana. The delegation will meet other industry leaders in Los Angeles, San Diego, San Jose, Boston and New York, reported The Indian Express.
Rao said the investment will come up in Rajanna Sircilla district of Telangana and generate direct employment for 3,000 people and 2,000 more jobs indirectly. The investment will come up in Mid Manair reservoir in Rajanna Sircilla. The primary target is to produce 85,000 metric tonnes of Tilapia fish per year using cage culture methodology.
Fishin’ Company chairman and CEO Manish Kumar said the project in Telangana will be the largest freshwater aquaculture project in the world.
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An official with the Industries, IT and Commerce Ministry of Telangana said that Fishin’ Company, the largest importer of Tilapia fish in the world, will invest in a fully integrated freshwater fish culture ecosystem, including hatcheries, feed manufacturing, cage culture, processing and exports.
KT Rama Rao said he has urged the Fishin’ Company to prefer local fishermen community and those displaced due to the Mid Manair project while creating jobs.