Cey-Nor gets boat order from Madagascar

Anjana SAMARASINGHE

NEW MARKET: The Cey-Nor Foundation Ltd has ventured out to the Madagascar boat market.

The Foundation has received a USD 120,000 boat order from Madagascar and this is the first time that the foundation has ventured out to Madagascar.

Chairman of the Cey-Nor Foundation, Rohan Jayasinghe said the fisheries sector in Madagascar is booming and they expect to be the leading market player in the boat market there.

As a first step, Cey-Nor foundation has received an order for two multi-day boats and three one day boats. The buyer is also confident of placing more orders to the foundation.

However Cey-Nor expects to complete the order by end of this year, Jayasinghe said.

Cey-Nor has also made arrangements to relocate their boat yard in Unawatuna to Beruwala to enhance production. This will cost nearly Rs 70 million and they have selected Beruwala since it is a tourist destination, he said.

Jayasinghe said that they are concentrating on manufacturing long liner multi-day boats since the trend is towards fishing craft that could be used in deep sea fishing.

Cey-Nor also entered into an agreement with a Norwegian company to supply leisure boats to Europe. They expect to enter into the Bangladesh and the Maldivian market in the near future.