News
Travails of a multi-million dollar investor in premium tuna exports
Simon Max Astandoust, a fourth-generation member of the illustrious Astan fishing family, is the founder and CEO of Seamax Ceylon (Pvt) Ltd, a company that set out to bring world-class tuna processing technology to Sri Lanka. With investments running into millions of US dollars, Astandoust’s vision was to transform Sri Lanka into a regional hub for ultra-fresh tuna exports.
However, years of bureaucratic hurdles, government changes, and policy inconsistencies have left his project stalled. In this candid interview, Astandoust shares the legacy of his family business, his hopes for Sri Lanka, and the challenges that threaten to push investors away.
Q: Tell us about the history of your company and the Astan family’s legacy in the fishing industry.
A:The Astan family’s journey in fishing dates back to 1818, beginning with my great-great-grandfather, followed by my great-grandfather, grandfather, father, and now myself and the next generation as well. My son, Sam Astan, who is based in the United States, is continuing the family tradition. I represent the fourth generation of the Astan family in this trade.
Our story began on the Caspian Sea, where my grandfather first ventured into commercial fishing. Later, my father married into a family that was in the caviar business, blending two deep-rooted maritime traditions. Over the centuries, the Astan name has become recognized globally for quality and excellence in the fishing industry.
Q: What motivated you to invest in Sri Lanka?
A:Around 2014, we decided to expand our global operations beyond Europe. Our parent company is based in Spain, so we first moved into Senegal, Mauritania, and Morocco, where tuna resources were abundant.
We then identified Sri Lanka as a strategic location with an excellent reputation for yellowfin tuna. We sent a team here and to the Maldives to study the tuna industry. After careful evaluation, I personally visited Sri Lanka in 2016, and by 2017, we decided to establish a company here, Seamax Ceylon (Pvt) Ltd.
We wanted a factory within a harbour to maintain the freshness of the catch, as moving fish long distances affects quality. I met with government officials, including the Minister, the Secretary to the Ministry, and the Chairman of the Ceylon Fishery Harbours Corporation (CFHC). They welcomed our proposal and were enthusiastic about the technology and investment we planned to bring in around USD 20–25 million.
We were assured of a 15-year lease for a site at the Dickkowita Harbour, but despite written confirmation from the then Chairman, the promised lease has never been granted.
Q: What challenges did you face after that initial agreement?
A:Unfortunately, when we inspected the site, it was far below international standards lacking even basic infrastructure for workers. Since the government had no budget to upgrade it, I personally financed the renovation and modernization of the facility, against the advice of my financial consultants.
Even after completing major improvements, we were told to “go ahead” without the lease being formalized. Then came a change in government, and everything changed — officials, policies, and priorities.
We had to start from scratch, explaining the project all over again to a new set of officials. They too encouraged us to proceed and even asked us to bring in our vessels. We invested further, importing four vessels. Then the COVID-19 pandemic struck, bringing all operations to a halt.
After the pandemic, another issue arose — one of our vessels became entangled in a legal dispute, which dragged on for years, causing significant mental and financial stress.
Q: How have these challenges affected your plans to introduce new technology to Sri Lanka?
A:Our goal was to introduce super-freezing technology — what we call “C Minus 60” or ultra-fresh processing. This process freezes tuna to –60°C within hours of harvest, preserving its natural flavour and texture without using heavy chemical gases like CO2.
This is the gold standard in Japan and other advanced markets, ensuring top-grade tuna that meets the expectations of elite restaurants. Unfortunately, because of the uncertainty surrounding our factory lease, we have been unable to install this technology in Sri Lanka.
The country’s current tuna export methods are outdated — similar to what my great-great-grandfather used over a century ago. Without adopting new methods, Sri Lanka’s tuna exports will continue to be graded B, B+ or C, never achieving A-grade status in global markets.
Q: What has been your experience dealing with different governments in Sri Lanka?
A:Frankly, every time a government changes, we are forced to start over again. It’s exhausting. Under the previous administration, former Minister Douglas Devananda was genuinely interested in modernizing the fishing sector. He understood the importance of new technology and supported our project. The lease was ready for signing — and then the government changed again.
This current administration, I’m sorry to say, seems less informed about the industry and less interested in engaging with investors. Many officials we meet do not understand the technology or the global standards we are working with.
It’s disheartening, because the Maldives has already approached us, offering to host our project there. One of my friends started a similar initiative in Seychelles at the same time I started here, and his investment is now earning millions of dollars. Meanwhile, we are still stuck here waiting for approvals.
Q: Given all these difficulties, what are your plans going forward?
A:I have already invested USD 6–7 million in Sri Lanka, and I continue to pay my staff despite the factory being idle. I’m deeply saddened because I love this country and its people. I truly believe Sri Lanka can become a major global player in premium tuna exports if only there was stability, consistency, and professionalism in government dealings.
If this issue is not resolved soon, I may have no choice but to seek legal recourse. No investor wants to fight legal battles just to get what was promised. Investors seek clarity and continuity, not chaos.
Our ultra-fresh super-freezing technology could revolutionize Sri Lanka’s seafood exports, bringing in millions in foreign exchange. But without the government’s cooperation, that dream remains on hold.
Q: Any final thoughts for Sri Lanka’s policymakers?
A:My message is simple: Sri Lanka has enormous potential, but it must create an environment where investors feel safe and supported. Governments may change, but agreements and commitments should not.
We came here in good faith, bringing in world-class technology, investment, and employment opportunities. All we ask in return is transparency, continuity, and respect for agreements.
By Saman Indrajith ✍️
News
Senior citizens above 70 years to receive March allowances on Thursday (26)
The Welfare Benefits Board has announced that the March allowance for senior citizens over 70 years of age will be credited to each beneficiaries account on Thursday (26th).
693,801 senior citizens over the age of 70 years are set to benifit under this welfare scheme
News
CEB Engineers warn public to be prepared for power cuts after New Year
A looming power crisis is casting an ominous shadow over the country, with engineers warning that the current “no power cut” situation may not last beyond the Sinhala and Tamil New Year due to worsening diesel shortages and ongoing coal-related disruptions.
A senior electrical engineer, attached to the Ceylon Electricity Board Engineers Union, cautioned that while authorities appear to be managing the system for now, the underlying fuel constraints are reaching a critical point.
He told The Island: “At the moment, there are no scheduled power cuts across the country. But this is being maintained under significant strain. With the diesel shortage and unresolved coal issues, sustaining uninterrupted supply, beyond the New Year period, will be extremely challenging.”
The engineer noted that thermal power generation — particularly diesel-based plants — has become increasingly difficult to sustain due to limited fuel stocks and logistical bottlenecks. At the same time, the substandard quality coal supply issues that have plagued recent shipments continue to undermine the efficiency of base-load generation.
“We are stretching available resources to avoid immediate outages. owever, unless there is a rapid improvement in fuel availability, the system will be forced into load shedding soon after the New Year,” he warned.
According to him, authorities are likely to delay any scheduled outages until after the festive season to avoid public backlash and economic disruption during a traditionally sensitive period.
“Most probably, they will try to continue like this until the New Year. But after that, daytime or peak-time load shedding becomes almost inevitable if the situation remains unchanged,” he added.
Energy analysts say the warning reflects a deeper structural vulnerability within the power sector, where over-reliance on imported fossil fuels — particularly diesel and coal — continues to expose the system to external shocks and procurement failures.
The recent use of substandard coal has already resulted in reduced generation capacity at the country’s sole coal power plant at Norochcholai, compounding the pressure on thermal plants to bridge the shortfall. Engineers say this has forced operators to depend more heavily on costly diesel generation — an option now constrained by supply shortages.
Industry sources indicate that demand is also on the rise, particularly during night peak hours, possibly driven by increased reliance on electricity for cooking, amid gas shortages, further tightening the supply-demand balance.
Despite the absence of official announcements, insiders suggest contingency planning for load shedding is already underway.
“If the fuel situation does not improve within the next few weeks, controlled power cuts will be the only viable option to protect the grid from a total system failure,” the engineer stressed.
The warning comes at a time when the country is attempting to maintain economic stability following successive crises, with uninterrupted power supply considered critical for industry, commerce, and daily life.
However, unless urgent corrective measures are taken to secure reliable fuel supplies and stabilise generation capacity, the return of power cuts — including during daytime hours — appears increasingly unavoidable, an expert said.
By Ifham Nizam
News
Japanese boost to Sri J’pura Hospital, an outright gift from Tokyo during JRJ rule
Japanese Ambassador to Colombo, Akio Isomata, on 24 March, handed over the newly established dental unit and 4D Angio CT suite at Sri Jayewardenepura General Hospital. Health Minister Dr. Nalinda Jayatissa and other senior officials from the Ministry of Health and the hospital attended the event.
Highlighting the strong partnership between Japan and Sri Lanka in the health sector, the Embassy issued the following press release yesterday: “This handover marks the second phase of the project, following the initial provision of ophthalmic equipment in December 2023. The current phase represents a significant milestone, featuring the introduction of a state-of-the-art CT Angiography system – the first of its kind in South Asia – as well as dental units. These contributions are expected to enhance Sri Lanka’s capacity to address non-communicable diseases (NCDs), including cancer, stroke, and diabetes, thereby saving lives, reducing long-term complications, and improving the quality of life of patients.
The CT Angiography system integrates CT scanning and angiography functions, enabling highly accurate and timely diagnosis and treatment. It is expected to further strengthen the hospital’s role as a key medical hub in Sri Lanka and the wider region.
In addition, the provision of 10 dental units will support the establishment and enhancement of dental services at the hospital. In Japan, oral health is considered closely linked to overall health and plays an important role in extending healthy life expectancy. This support is, therefore, also expected to contribute to the promotion of preventive healthcare in Sri Lanka.
The Sri Jayewardenepura General Hospital was constructed in 1984 with grant assistance from the Government of Japan. The well-known “1001-bed” story—originating from former President J.R. Jayewardene’s remark to add one more bed to the originally planned 1,000—remains a memorable episode reflecting the history of this cooperation.
Japan has consistently supported Sri Lanka’s health sector over the decades, including the development of medical facilities, strengthening of blood supply systems, and support during the COVID-19 pandemic through vaccine delivery assistance. Furthermore, during Sri Lanka’s recent economic crisis, Japan provided fuel essential for maintaining healthcare services, and in times of natural disasters, dispatched emergency medical teams to deliver urgent care. These efforts demonstrate Japan’s continued commitment to standing by Sri Lanka, especially in times of need. These efforts reflect Japan’s commitment to “investment in people” and “human security,” supporting a healthcare system in which all individuals can live healthy and dignified lives.

Japanese Ambassador Isomata with Minister Dr Jayatissa and officials (pic courtesy Japanese Embassy)
Ambassador Isomata remarked, “This support is not merely for the provision of equipment, but also for the consolidation of the foundation for safeguarding lives and livelihoods. Sri Jayewardenepura General Hospital, built with the support of Japan, stands as a symbol of the longstanding friendship between our two countries. We sincerely hope that this project will contribute to building a sustainable healthcare system that benefits future generations in the field of medicine and further strengthen our partnership.”
Minister Jayatissa highlighted,” This is not just a donation of machines. It is an investment in the lives and futures of our patients. By establishing this modern dental unit, we are addressing a critical need in the prevention and treatment of oral diseases for our population. I wish to express our deepest gratitude to the Government and people of Japan for this generous assistance. These are acts of true friendship, and the people of Sri Lanka will always remember them with gratitude.”
Japan will continue to work closely with Sri Lanka to further strengthen the healthcare sector and deepen the longstanding friendship between the two countries.”
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