THE Irish Sea Fisheries Board, BIM, has opened applications for The Commercial Aquaculture Development Scheme.

The scheme provides grant assistance, at a rate of up to 40% of eligible investment costs, to promote the commercial development of aquaculture on a basis which is financially, technically and environmentally sustainable.

Applications should be submitted to the agencies before Friday, 20th August 2010.

They will be prioritised for financial assistance and subsequently submitted to an external Selection Board for a decision on grant aid.

Applications are invited from SME's engaged in aquaculture whose investment plans contribute to lasting economic benefits from the structural improvements in question, offer an adequate guarantee of technical and economic viability as well as environmental sustainability and avoid counter productive effects, particularly the risk of creating surplus production capacity.