Odisha Government inks lease agreement on Jagatjore Shrimp Culture Project

Posted on:05 Sep 2016 18:04:07
Odisha Government inks lease agreement on Jagatjore Shrimp Culture Project
05 September 2016 Current Affairs: Odisha government has signed a long-term lease agreement with Falcon Marine Exports for the operation of Jagatjore Shrimp Culture Project in coastal Kendrapara district on 3 September 2016. Falcon Marine Exports was the highest bidder of the project.

The lease period will be for 15 years which, will fetch revenue of 13 crore rupees to the government.

Jagatjore-Banapada Shrimp Culture Project : The project was first implemented in 1992-93 in Mahakalpada Tahasil of Kendrapara District executed by the State Fisheries Department. It was executed with loan assistance from World Bank with a cost of 25.23 crore. It was completed in 2000.

Odisha took up the Shrimp culture in 2001, under which 81 lakh rupees was provided to the BPL beneficiaries as working capital. But, the project became defunct as only crop was partially successful.

The government decided to revive the project, which was lying idle for years on the suggestions from the Seafood Exporters Association. The association requested the government to use the developed infrastructure.

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