Funding of €13.3 million Announced for Aquaculture Industry

Minister of State at the Department of Communications, Marine and Natural Resources, Mr. John Browne T.D.  announced on 23rd July, 2006  grant aid totalling €13.3m for aquaculture projects under the Aquaculture Development Measure of the National Development Plan (NDP) 2000-2006. The €13.3 million grant aid will support a total investment of approximately €29 million.

A total of 41 private projects (28 Shellfish and 13 Finfish) and 3 public projects will benefit from this grant aid. These projects cover a wide range of activities such as development of new species, expansion and modernisation of salmon and trout farms together with expansion of shellfish farm facilities. Minister Browne stressed the importance of diversifying into new species and investing in new technologies, which “will underpin future growth in Irish aquaculture and ensure it remains an important source of employment opportunities in our peripheral coastal communities”, said the Minister.

Included in the announcement is €2 million which has been allocated to 7 specific projects under the Technical Environment Support Programme (TESP). These projects are all aimed at achieving significant improvements in the environmental impact of the marine based salmonid sector, through improved levels of production efficiency.
 
Minister Browne continued, “Those involved in the aquaculture industry can work and plan with confidence for the future. The aid available under the National Development Plan provides vital support for the continued development of the sector as is being demonstrated by the level of assistance given to promote modernisation and expansion. The investment is aimed at improving efficiencies in bringing product to the market. This coupled with the support for the acquisition of key capital equipment should leave the sector in no doubt about this Government’s commitment to the Industry.”

Below is a schedule of all grant-aided projects.

Ends

Notes to editors

The Technical Environment Support Programme (TESP) which was launched in December 2005 is a once-off initiative, with grant aid of up to 65% of eligible expenditure on qualifying projects; 35% of this amount will be sourced from the Financial Instrument for Fisheries Guidance in the Aquaculture Development Measure of the NDP 2000-2006 and up to 30% will be funded from the exchequer allocation of the development agencies. The maximum public funding for the initiative will be limited to €2m. TESP forms part of the measures aimed at restructuring the sector during the period of the minimum import price trade protection measure.