The Rs 10-crore Shantha Marine will utilise marine biodiversity resources for commercial purposes using the tools of modern biotechnology. It was launched on Saturday at Kallamozhi in Tuticorin district, by the Tamil Nadu minister for youth and pollution control, Mr Pongalur N Palanisamy, along with the state fisheries minister Ms Jenifer Chandran. Both the ministers assured businessmen that the project conforms to pollution control norms and standards. The promoters have given an assurance that the process involves no effluents or waste materials as the plant recycles saline water used for algae culture and the culture ponds are built in such a way as to prevent any seepage. It will provide direct employment to 110 people.

The algae culture technology has been developed by ABL and it has been transferred to Shantha Biotechnics, the manufacturers of Shanvac-B, the hepatitis-B vaccine, in the country. Shantha Biotechnics owns 65 per cent of the equity of Rs 3.9 crore and ABL 35 per cent. The project is being funded, by the Technology Development Board of India (Rs 3 crore), term loans from Uco Bank and internal loans from Shantha Biotechnics.