The bank would provide loans to construct tuna long line trawlers under its ‘Meenava Thozhan’ scheme, said Mr. Ravichandran.
Thirty boats were under construction at Cochin shipyard.
Under the deep sea fishing project, beneficiaries would be given loans to construct tuna long liners at the rate of Rs. 80 lakh per boat. The Centre and the State government would provide subsidy of 50 % and 20% respectively. The beneficiaries would be helped to raise 20% institutional finance after their 10 % contribution.
With the launch of this new fleet of boats, bottom trawl net fishing could be replaced by surface fishing at deep sea. First, modernised boats would be provided to 500 fishermen in Ramanathapuram district. Plans were on to give such boats to fishermen of Pudukottai in the next phase. Credit facilities to the tune of Rs. 1,66,70,000 had so far been provided to fishermen of Thoothukudi district this year, he said.