Coromandel International supports the natives for a livelihood on the initiative – Driver for decent lifestyle
Chennai, 28, February 2022: Periyakuppam and Chinnakuppam are the neighbourhood of Coromandel International Limited, Ennore. Marine fishing is the major occupation of these two habitations. Motorized boats are the major source of income to the small and marginalised fishermen living in these hamlets and facilitate them running decent lifestyle by having their own boat with an investment of Rs. 3 Lakhs including fibre boat, engine, fishing net, etc.
During FY 2021-22, CIL, Ennore distributed 10 boat engines to both Periyakuppam and Chinnakuppam to support the motorised boat owners to replace their damaged engines. The recent slowdown in the local economy affected greatly in fishermen’s life resulted in a series of lockdowns for Covid.
Background of the project: Since the boat engines are exposed to salt air and water, corrosion and damage is common phenomena. Each boat owners have to change their engines once in three years, for this, they look for new engines at a subsidised rate from the state Fisheries department (Beneficiary contribution 60% Govt. subsidy is 40%). Per engines cost Rs. 72,000/– Model: Greeves 3510 (10HP) Marine Diesel Engine with stainless steel power pole assembly.
Project details:
To supplement the initiatives of the state fisheries department, Coromandel International Ltd. distributed 10 boat engines at full subsidy to the marine fishermen in Periyakuppam and Chinnakuppam through the Corporate Social Responsibilities (CSR) initiative under the sustainable livelihood development category. It reduces the time for waiting for subsidy from the state Govt. and facilitate the newcomers to get into fishing activities without much struggle.
This initiative helps them to rescue from being trapped in the hands of moneylenders (2 to 3% interest).
Beneficiaries on this initiative: Mr. S. Mani aged 62 from Periyakuppam in a month could make an average of Rs. 25,000 to 30,000 for family income. this initiative saved the family from debt and rescued them from the burden of the high rate of interest from local moneylenders.
Words from Mr. S. Mani “If this scheme wasn’t initiated, he might have stopped fishing from his boat and might have joined in different boat as wage worker. Now my son and myself making the bread from our own boat because of CIL, Ennore boat engine project.”