Press briefing of Cabinet Decision taken on 2011-04-27

Development and Expansion of Fishnet Factory of Northsea Ltd.

- this is a 100% government owned fishnet factory situated in Jaffna which manufactured about 300 Mt. of fishnets per annum and was damaged during the conflict situation in the area during the last 3 decades. Fishing industry has been a major economic activity and a source of livelihood in the Northern Region during the past, where about 18,500 fishermen are engaged in fishing in the region. The sea food production in 2010 was 20,740 Mt. and is expected to be increased up to 25,000 Mt. per annum. On a proposal made by Hon. Douglas Devananda, Minister of Traditional Industries and Small Enterprise Development, Cabinet approval was granted to develop and expand this fishnet factory at Gurunagar, Jaffna with financial assistance from the Government of India at a cost of Rs.152 million.