Thiruvananthapuram, Feb 3 (IANS): The state-owned Kerala Shipping and Inland Navigation Company (KSINC) has entered into an association with US-based EMCC International for a Rs 2,950 crore project to manufacture deep sea fishing trawlers.

KSINC Managing Director N. Prasanth and EMCC president Shiju Vargheese signed a memorandum of understanding in this regard.

This is a follow-up to the understanding the state government had with EMCC during the 'Ascend 2020' investment seminar organised by the state government.

The project envisages the development of ports in the state as well as manufacture of trawlers. The fishing industry in state is earning huge foreign exchange revenue through exports and most of the catch is through deep sea fishing using trawlers.

EMCC will manufacture 400 trawlers in the state with the support of KSINC. Presently most of the trawlers used are foreign-made.

KSINC will provide all the infrastructure support for EMCC to construct the trawlers which will cost Rs 2 crore per trawler. The trawlers will be handed over to fishermen of the state involved in deep sea fishing.

Prasanth said, "This will provide 25,000 job opportunities in the state and one trawler will be provided to the Central Marine Fisheries Research Institute (CMFRI) for research purposes."