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August 11, 2014

Turks and Caicos

$125 Million for Two Shrimp Farming Projects

 

The Government has given the go-ahead to two shrimp farming projects in the Turks and Caicos Islands (TCI) with a combined capital investment of $125 million over a four-year period.

 

The two projects will employ an estimated minimum of 500 skilled and semi-skilled workers on a full-time, year-round basis and create more than 4,000 indirect jobs.  The two operations are also expected to generate annual export earnings exceeding $200 million.

 

 

Washington Misick, TCI Minister of Finance, said according to Global Blue Technologies, one of the investors, the two investments will make the TCI the largest aquaculture producer by value in the Caribbean and the only all natural, organic producer in the region.

 

“In keeping with our emphasis on the environment, the proposed projects will be sustainable, bio-secure, high-density aquaculture complexes,” Misick said.  “TCI makes an ideal location for exporting to the USA, the largest shrimp consumer in the world, since it is close to the USA and not subject to anti-dumping duties.”

 

Source: Turks and Caicos Weekly News.  Massive Shrimp Farming Investment for TCI.  August 11, 2014.

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