Business

New sea cucumber processing factory in Jaffna

BOI Chairman Susantha Ratnayake formally presenting the Certificate of Registration to Suganth Seafood Managing Director Suganthaseelan Aravinthan

The Board of Investment of Sri Lanka (BOI) signed an agreement with Suganth Seafood (Pvt.) Ltd. to set up a sea cucumber processing factory in Jaffna for the export market.

The agreement was signed by BOI Chairman Susantha Ratnayake and Suganth Seafood Managing Director Suganthaseelan Aravinthan. The project has an initial investment of $ 1.2 million.

Sea cucumber is harvested mainly in the northern and eastern sea belt by specially trained divers in the seabed and is then processed to the required dried stage in the state-of-the-art factory that is to be established in the Jaffna Peninsula, the BOI said.

Suganthaseelan said: “We focus on strict adherence to government norms, eco-conscious methodologies, transparent business practices, and on-time delivery. The company intends to expand the business gradually, thus providing more job opportunities to the local communities and enhancing their livelihood.”