The Falcon Marine Exports ltd on Friday signed a lease agreement with the Directorate of Fisheries to take three clusters of the Jagatjore–Banapada Shrimp Culture Project, Kendrapada for 15 years.
The clusters have a gross area of 433 hectares comprising 437 of culture ponds spread over 257 hectares of water area. The Government will get revenue of Rs 13 crore from the lessee during the 15 years.
Fisheries and ARD Department Secretary Bishnupad Sethi said, as per target, about 2500 metric tonne of l vannamei shrimp would be produced in the initial year with a value of about Rs 100 crore. The success of the project would generate employment and interest among farmers of the area for better aquaculture practices.
Notably, the project implemented in 1992-93 in Mahakalpada tehasil by the Fisheries Department with loan assistance of Rs 25.23 crore from World Bank had 405 ponds, each having 0.5 hectare area. The ponds had been allotted to 405 beneficiaries of lower income group. Shrimp culture was taken up in 2001 and Rs 81 lakh provided to the BPl beneficiaries as working capital.
Only one crop was partially successful and after that the project became defunct. The entrepreneurs and the farmers sustained heavy losses and did not refund their sub-loan and the leases were cancelled.
later in 2004, the Government had decided to lease out the project on a long term basis.