KSINC signs deal with US-based EMCC for Rs 2,950 cr project

Kerala Shipping and Inland Navigation Corporation Ltd (KSINC) and US-based EMCC International have joined hands for a Rs 2,950 crore project to construct deep-sea fishing trawlers, new harbours & port development activities among others in a move that leapfrog fishing sector in Kerala.

KSINC MD N Prasanth and president of EMCC International India Pvt Ltd Shiju Varghese signed the memorandum of understanding. As per the agreement, EMCC will construct 400 trawlers in Kerala with the help of KSINC. Currently, foreign trawlers are more in use in the state.

According to KSINC release, when this scientifically planned project will be implemented, there will be a complete Kerala touch to this sector. Further, this would be the largest foreign investment project in the state". 

Presently, international trawlers in the State are more in use. This would be one of the State's biggest foreign investment ventures and the largest work order in KSINC's history, officials stated. The initiative is the result of the EMCC-State Government partnership concluded during the previous 'Ascend 2020' meeting of investors. 

KSINC will provide technical assistance and give EMCC full responsibility for building the trawlers. It is estimated that the cost of constructing a trawler of international specification and specifications is about ₹ 2 crore. The 400 trawlers that will be built will be turned over to State fishermen. 

Considering the lack of berthing facilities for these trawlers, the company would construct new harbours and renovate existing ones to accommodate these trawlers. 

In addition, EMCC will open units to handle the fish captured by these trawlers. Both the domestic and overseas markets will sell the packaged food, Varghese said. The project is expected to generate over 2,500 job opportunities in the State, according to Prasanth.  

It was also agreed to provide the Central Marine Fisheries Research Institute with a free trawler for research purposes, in order to use CMFRI research methods designed for eco-friendly fishing. It was also proposed to build, as part of the scheme, fishermen's hospitals and the first one at Attingal.