Coastal Corporation, an Indian seafood company, has decided to set up a wholly-owned subsidiary in Sri Lanka.
The decision was approved during a board meeting of the company and announced in a stock market filing at the Bombay Stock Exchange this week. However, the stock exchange filing failed to give further details of the project.
Coastal Corporation Ltd. engages in the processing of seafood in India. The company offers sea caught and aquaculture shrimp products, including sea tiger, whites, pink brown, vannamei and black tiger shrimps.
It also exports its products to the United States, Europe, Canada, the United Arab Emirates, Saudi Arabia, Australia, Hong Kong, Korea, China and Russia. The company was founded in 1981 and is based in Visakhapatnam, India.