HYDERABAD: Another huge investment has landed in Telangana. FishInn, an exporter of tilapia fishes in the world will be investing Rs 1,000 crore in the State.
Manish Kumar, Chairman and CEO of FishInn took the decision at a meeting with IT & Industries Minister KT Rama Rao in the US.
He said the company has decided to develop a fully integrated freshwater fish culture system in the Sate of Telangana at a cost of Rs 1,000 crore. The company will start world-class operations at the Mid Manair reservoir in Rajanna Sircilla.
Manish Kumar said the company will continue to operate in various sectors such as hatcheries, feed manufacturing, cage culture, fish processing and exports. "Company is likely to export about 85,000 metric tonnes of fish from the State every year once it starts full-scale operations," he added.
On this occasion, KTR said with this investment, the fishing industry in Telangana will get expertise of international standards. He said the investment would provide employment to about 5,000 people.
The company was advised to give preference to the Telangana youth, especially those who depend on the fisheries industry and the expatriates of Mid Manair. KTR has advised CEO Manish to use the skills they already have in fish farming.