SEAF invested in Aqua Tudakul, an Uzbek fish-farming firm, in May 2004 to assist the company in its efforts to modernize its operations and upgrade its fleet. Through financial and business assistance from SEAF, Aqua Tudakul introduced state-of-the-art technology to the hatchery, constructed on-site housing for fishermen and staff, and purchased boats, generators, and a canal net for the lake. SEAF later made a second investment in the company to develop a processing plant with cold storage and freezing capabilities.
Sustainably Expanding Production
In the years following the infusion of capital, Aqua Tudakul doubled and almost tripled the capacity and productivity of its hatchery through the installation of modern equipment. In addition, new reproduction techniques implemented by the firm with SEAF’s assistance drastically increased the lake’s fish population. Even with Aqua Tudakul’s increased production, the company maintained its reputation for quality products and easily found a market for its increased supply.
Benefits to Employees
As a result of SEAF’s involvement, the company’s revenues and profits have more than doubled and the number of employees has grown from 61 in 2004 to 196 in 2009. Aqua Tudakul has had a profound impact on its employees, not only by increasing the number of people it employs, but also my improving the living conditions for the fisherman and other staff located on the lake. In contrast to competitor firms, Aqua Tudakul provides employees with housing, free meals, and warm work clothes. Additionally, the company helps its employees address financial difficulties, providing cash advances or loans to employees on a case-by-case basis.