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€1.75 Million boost for Irish Seafood Processing & Aquaculture Companies

Sean Connick TD, Minister of State at the Department of Agriculture, Fisheries and Food today announced €1.13 million in grant-aid for Irish Seafood Processing companies under the Seafood Processing Business Development Scheme, and a further €623,620 for aquaculture companies under the Commercial Aquaculture Development Scheme.  This represents a total investment of €1.75 million in 15 seafood processing and aquaculture projects.  Both schemes form part of the Seafood National Programme 2007-2013, funded under the National Development Plan 2007-2013.  Development of both of these areas, seafood processing and aquaculture, are key elements in the recently published 2020 Food Harvest Report.

The Seafood Processing Business Development Scheme is aimed at SME's who have solid business plans focused on adding value to Irish seafood products on both domestic and overseas markets.  The qualifying projects all exemplify dynamic ideas in new product development and innovation.  Grant-assistance of up to 25% on capital expenditure required for the production of value added products and for improvements in processes and quality beyond legislative requirements is being provided.

The Commercial Aquaculture Development Scheme is aimed at assisting fish and shellfish farmers to invest in their businesses.  The approved projects are examples of companies that are looking to improve their efficiency through technology transfer and have a strong focus on quality, matched with the demands of the market. The measure provides for grant aid of up to 40% of eligible capital expenditure.

Notes to Editor

Details of the grants awarded are set out below.

Company Name    Eligible Expenditure 
 Grant Approved
Seafood Processing Business Investment Scheme 2010    
Chillchiaran Eisc Teo. 46,860 11,715
Connemara Seafood Frozen Ltd. 184,000 46,000
De Brun Iasc Teo. 16,500 4,125
Earagail Eisc Teo. 517,000 129,250
Fastnet Mussels Ltd. 225,000 56,250
Keohane Seafood Ltd. 181,000 45,250
O Cathain Iasc Teo. 294,000 73,500
Sean Ward(Fish Exports) Ltd. 1,923,000 480,750
Sofrimar Ltd. 1,133,000 283,250
Total 4,520,360


Commercial Aquaculture Development Scheme 
Sliogéisc na Rossan Teo. 299,400 119,760
Feirm Mara Oilean Acla Teo  280,000 112,000
IDAS Limited 73,630 29,452
Goatsbridge Trout Farm Limited 637,000 254,800
Fastnet Mussels Limited 29,500  11,800
Curraun Blue Limited 239,520 95,808
Total 1,559,050 623,620

Date Released: 24 September 2010