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.

- BY SAMAN INDRAJITH

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.