A shrimp shell processing facility will be established in Twillingate with the help of a $500,000 loan from the provincial government, it was announced today.
The initiative is expected to create up to 19 full-time jobs during periods the facility is operational.
According to a news release, the facility will dry and compact shrimp waste to produce two products: dried shrimp shells for shipment to China (to be processed into contamination-free glucosamine which is a non-vitamin, non-mineral dietary supplement), and a protein byproduct to be targeted to the aquaculture industry as a component of feedstock.
The facility will be operated by Eastern Star Group Canada Inc., a partnership between Canadian and Chinese entrepreneurs that is focused on commercial utilization of marine-based materials.
Business Minister Derrick Dalley said the facility will result in new employment and other spinoff benefits for the local economy.
“This initiative is positive for the environment since the plant in Twillingate will no longer have to dispose of this waste material as it had in the past,” Dalley said. “Finally, the project sees the implementation of new technology that brings added value to the existing shrimp fishery.”
An approximately 5,000 square-foot processing facility is currently under construction in Twillingate that will operate for up to 10 months per year.
“Eastern Star Group is committed to developing its activities in the Twillingate area,” said Hettiger Chang, President and CEO of Eastern Star. “We have already identified several unique business opportunities in the Chinese market and we plan to further expand the operation in Twillingate over the next few years to encompass these opportunities. Hopefully this will lead to an even greater level of employment in the area.”
Under the Provincial Government’s Business Attraction Fund, a $500,000 loan is being provided for the initiative. This will result in the creation of 19 full time jobs during the periods when the facility is operational. The Business Attraction Fund provides customized financial assistance for start up or expansion activities by investors external to the province. Budget 2010: The Right Investments – for Our Children and Our Future allocated a total of $29 million under the fund this fiscal year.
The loan was provided under the provincial government’s Business Attraction Fund. The Business Attraction Fund provides customized financial assistance for start up or expansion activities by investors external to the province.
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