CIF 2023 - Investment Catalogue

AGRIBUSINESS & AGRICULTURAL TECHNOLOGY GRENADA

NAME OF PROJECT: Canning of Tuna, Jacks and other Fish Products

exporter of tuna and also capture other species suitable for canning. A company operating from Grenada will also benefit from special trading provisions under the CARICOM Single Market and Economy. Market Analysis: In the absence of credible data on local Jacks capture, since a significant number of jacks are sold informally and are also used as fish bait, mirrored data from St. Vincent and the Grenadines suggest that jacks capture averages 105,000 lbs. and valued over US$ 197,000 on an annual basis.

Problem Definition: Fish and fishery products remain a high- value commodity which is constantly in demand locally, regionallyandon the international market. Grenadahas several landing sites in various parishes which include St. Georges, St. Andrews, St. Johns and St. Patricks. These processing facilities are structured mainly around selling fresh fish instantly to the public. One private sector company and a fisher cooperative are the main processors and exporters of frozen fish. One company is involved in value added fish products in the form of bacon, salt and smoked fish. There is no company involved in the canning of fish and fish products for sale on the local market or for export purposes especially to the regional markets. Solutions Capturing the opportunity for canned fish and fishery products can be achieved with the introduction of a modern, state-of-the-art ‘Fish Canning Plant’. The fish raw materials for the plant will be readily available as Grenada is a major

MODE OF INVESTMENT: • Joint Venture , Partnership INVESTMENT AMOUNT (USD) • $1,500,000

Contact Person: Mrs. Cathyann Alexander-Pierre E: cpierre@gidc.gd

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