Taprobane Sea Foods to invest US$ 5 mn for expanding operations

Taprobane Sea Foods to invest US$ 5 mn for expanding operations

Taprobane Sea Foods (Pvt.) Ltd., (TSG), a leading exporter of Crabs and Shrimp to the US, Australia, Japan and the EU, would be further investing US$ 5 million to expand their operations in Sri Lanka. The company has invested over US$ 25 million during the last three years.

TSG Managing Director Timothy O’Reilly said that their mission is to be the largest investor to the local fishers industry with an additional investment of US$ 100 million, with new business ventures through diversification and product / brand Development.

“Vennamai Shrimp farming project in Mannar, is the main project where for the first time in Sri Lanka White Shrimp would be farmed. At present, a huge demand in exports to the USA market is evident for the Vannamai shrimp. This would promote aquaculture and would also pave way for a US$ one billion industry in exports. It would also be creating 140,000 employment opportunities in the Northern Province within one year of operation of the project.”

Firstly, there would be a pilot project where we would invest US$ 50 million which will commence mid this year when final approvals are received. “In addition, we will diversifi to ‘Frozen Tuna’, ‘Hatchery Farming’ and eventually to fish feed sectors as well.”

“TSG would also launch our own Brand ‘Taprobane’ to export markets, while continuing to cater to the existing manufacturing / packaging done for the world renowned sea food brands such as ‘Chicken of the Sea.’ The US, EU and Japan are strong markets for seafood exports from Sri Lanka. “I believe China is a potential importer of Sri Lankan seafood, along with Singapore, Hong Kong and Thailand. TSG’s export markets have expanded to Canada, US, UK, Spain, India, China, Vietnam, Japan, Philippines and Australia.”

“We also plan to introduce value addition to the seafood export market and also launch some products to the local market.”

Taprobane Seafood Group (TSG), was founded in 2011 by Timothy O’ Reilly and Dilan Fernando, with the shared vision of reaching the highest standards of sustainable seafood farming.

Last year, TSG won the highest export earner award at the Export Development Board (EDB) organized Presidential Awards ceremony.” TSG also won three awards at the National Chamber of Exports Awards Ceremony, which included the Fisheries Sector Extra Large Category Award and two other special awards in recognition of its contribution to sustainable development efforts in the Northern Province through the Employment Generation and Livelihood through Reconciliation (EGLR) Project.

 
 

This was implemented in collaboration with the International Labour Organisation (ILO), for creating employment opportunities for the differently-abled in predominantly war-torn areas. TSG has initiated these employment initiatives back in 2012, in partnership with the Disability

Network of the Employers’ Federation of Ceylon (EFC), facilitated by ILO’s Local Empowerment, through the Economic Development (LEED) Project.

It is also the first Sri Lankan entity to receive the Certification for Food Standards (FSSC-22000).

The company has accreditation from many renowned authoritative bodies in the industry, including Ethical Trading Initiatives (ETI), Best Aquaculture Practices (BAP) and Seafood Watch.

Taprobane have paved way for the industry to grow and remain committed to growing the sector through innovation. For instance, 100% traceability of its product is empowered today by a smartphone application developed jointly with the Colombo University, which enables GPS and GPI tracking to disseminate information to facilitate those involved in fisheries management.

“GSP-plus is certainly helpful to our exports, since most Sri Lankan products are being exported to the US.”

TSG has always maintained ethical labor practices in the industry through its enduring commitment towards community empowerment.

“Over the past few years, we have paid added attention towards creating and shaping living standards, well-being and the sustainable development of our 1,500-plus employees attached to 10 processing facilities throughout the Northern and North Western Provinces.”

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