Fishing has traditionally played an important role in the socio-economic development of the Seychelles in terms of job creation, government revenue and most of all, as an important source of nutrition for the population.

Industrial tuna fishing in the Seychelles has, since its outset in the early 1980s, been integral to the Seychelles economy, being one of two main sources of foreign exchange earnings. With the emergence of Port Victoria as a major tuna landing, transshipment, and seafood centre in the region, coupled with the country’s venture in tuna processing, the importance of the fisheries sector has grown even further to establish itself as a major economic contributor to generate wealth and create jobs for the country.

The Indian Ocean Tuna Ltd (IOT) is the largest single employer in the country by far. It’s one of the largest tuna processing factories in Africa and is owned by the world’s seafood leader Thai Union Group.

Key facts about the Indian Ocean Tuna (IOT) Limited:

• IOT was established in November 1995 after the acquisition of Conserveries de l’Océan Indien (COI), which had been built and operated by the government of the Seychelles since 1987. 40% of IOT is owned by the Seychelles government and 60% by Thai Union Group.
• IOT grew from 900 employees in 1995 to about 1,800 employees today.
• Its processing capacity rose from 50 metric tons/day in 1995 to 335 metric tons/day.
• IOT has an average production capacity of 1.5 – 2 million cans of tuna per day.
• IOT accounts for 95% of the Seychelles manufacturing exports and 88% of the Seychelles’ exports to the EU.
• Almost its entire production of canned tuna products is shipped to the EU, mainly France and Italy and to the UK.

Company profile:

IOT is located at the Fishing Port in the capital, Victoria. It manufactures and exports tuna products and puts out an average of 1.5 - 2 million cans of tuna per day. It processes tuna caught in the Indian Ocean for market-leading seafood brands such as Petit Navire in France and John West in the UK.

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IOT

The vision of IOT is “to be the best choice manufacturer for customers in terms of value and quality, while caring for people and leading on social responsibility and sustainability”.

IOT is an integral part of parent company Thai Union’s sustainability strategy SeaChange^® 2030. This strategy is the Group’s sustainability plan to help reshape the seafood industry with solutions for people and the planet that better sustain a future for all. IOT is delivering towards multiple commitments of SeaChange^® 2030:

• A 42% reduction in greenhouse gas emissions by 2030 from a 2021 baseline, and net zero emissions by 2050.
• To provide a safe, decent, and equitable workplace
• To make IOT a closed-loop factory by implementing zero water discharge, zero waste to landfill and zero food loss.

Thai Union is committing the equivalent of its entire 2022 net profit of THB 7.2 billion (EUR +/- 200 million) to SeaChange^® through 2030 and setting ambitious new goals that will impact the entire seafood value chain on a global scale. Achieving these goals will help reduce carbon, minimize waste, safeguard and rebuild ecosystems, ensure that safe, decent, and equitable work is a reality across the value chain, and ultimately fostering a healthier world. Over the past five years, Thai Union has invested in several iniatives at IOT to support achieving its SeaChange^® 2030 goals, such as:

• A waste water treatment plant
• Solar panels for energy reduction;
• Modern housing for their expatriate employees.

Main achievements over the years:

• IOT established itself as the third largest factory within Thai Union Group.
• IOT possesses a multicultural workforce with 17 different nationalities.
• The group is recognized and listed on the Dow Jones Sustainability Indices (DJSI) for the 10^th consecutive year in 2023.
• It ranked number one on the Seafood Stewardship Index (SSI) for the third consecutive time.
• It is listed in the S&P Global Sustainability Yearbook 2024.
• The group achieved a B rating from global environmental disclosure non-profit CDP Named to the FTSE4Good Emerging Index for the ninth straight year in 2024.

IOT

How did the EPA help?

Jamikara Techasaratoole, General Manager at IOT, said:

“The Economic Partnership Agreement between the European Union and the Eastern and Southern Africa (EU-ESA5 EPA) was a vital factor in the expansion of investment in the Seychelles as IOT geared its operations towards supplying the EU. IOT will further modernize its factory and continue to create employment and career opportunities for the people of the Seychelles.”

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IOT