merrion street

The Minister for Agriculture, Food and the Marine, Barry Cowen T.D. today announced €3.4 million in new investment by 15 aquaculture enterprises, with his Department’s European Maritime and Fisheries Fund Programme providing grants of €1,282,277.

Minister Cowen said,

I am delighted to announce the approval of a €3.4 million investment by 15 aquaculture enterprises with €1.3 million support from my Department’s EMFF Programme.  The latest investments are aimed at boosting production at oyster, mussel and salmon sites around our coast.  It is heartening to see this continuing confidence in the future by these ambitious aquaculture enterprises.  While recent months were challenging for many aquaculture businesses, the overall trend has been one of growing world demand for our seafood products.

As SMEs, most of the aquaculture businesses received grants of 40% towards the cost of their investments, with one non-SME receiving 30%, a new entrant to the sector receiving 50% and one investment in organic certification also receiving 50%.  The grants are co-funded by the Government of Ireland and the European Union and are subject to terms and conditions.