KSINC ties up with U.S. firm
The Kerala Shipping and Inland Navigation Corporation (KSINC) has tied up with U.S. firm EMCC International India Pvt Ltd. for a ₹2,950-crore project for deep sea fishing.
This is the biggest work order that the KSINC has received and is one of the biggest FDI schemes in Kerala, said Prasanth N, MD of KSINC. He and Shiju Varghese, president of the U.S. firm, inked the MoU here on Tuesday.
The MoU was inked on the basis of an agreement between the U.S. firm and the State government at Ascent 2020 investment meet. It involves construction of trawlers worth ₹400 crore by the firm in tandem with KSINC. Fishers now rely more on trawlers built outside India. Allied projects like development of harbours too will be taken up. Kerala’s fishing sector will leave an indelible mark once the scientifically-readied project becomes a reality.
“The KSINC would have to ready basic infrastructure so that the firm can build trawlers here. Building a world-class…