Welcome to FIS   Sponsored By
Subscribe to FIS | Register with FIS | Advertise with FIS | Newsletter | About FIS | Contact us
   


The loan Saudi Hollandi Bank will grant National Prawn Company will make it possible to continue its growth plan. (Photo: NPC/FIS)

Prawn company gets USD 122mln to build five farms

Click on the flag for more information about Saudi Arabia SAUDI ARABIA
Thursday, May 31, 2012, 02:40 (GMT + 9)

An agreement has been signed between Saudi Hollandi Bank and National Prawn Company to support the firm's long-term growth ambitions including the second phase development of its Red Sea prawn and fish farming projects. The funding is one of the biggest single bank transactions ever for a private sector aquaculture company in Saudi Arabia.

Saudi Hollandi Bank will provide National Prawn with an Islamic financing option worth USD 122 million.
 
The facility will be used by National Prawn to fund long-term expansion plans, including its prawn and fish cultivation projects at Al-Laith, 180 km south of Jeddah. The company will add five new farms each consisting of 28 to 30 ponds, each pond measuring about 10 ha.

Founded more than 20 years ago, National Prawn now produces over 18,000 tonnes a year of white prawns for sale both domestically and abroad. The funding will significantly increase the company's production capacity at its Red Sea facilities to 32,000 tonnes a year.

"This funding will support National Prawn Company's growth aspirations and expansion plans. We believe that the financing will help National Prawn Company rapidly increase its productivity and competitiveness,” said SHB's Managing Director Dr Bernd van Linder.

Saudi Hollandi Bank's Regional Manager for Corporate Banking in the Western Region Ghassan Nassief added that the bank seeks to make sure that its corporate customers have access to funding that is both in line with Islamic principles and that is flexible enough to support their development over the short, medium and long-term.

"Saudi Hollandi Bank was able to meet our financing needs in a way that complied with our Islamic-financing principles and also in a timely fashion,” stated National Prawn Company's Managing Director Engineer Ahmed Al-Balla'a. “This expansion will ensure that National Prawn Company can retain its position as one of the largest fully integrated prawn farms in the world."

Al-Balla'a commented that the company’s prawns are exported to markets such as Britain, Spain, Japan, Korea, America, China and Australia and that the firm has been ISO 9001, 14001 and 22000 certified and possesses the British Retail Consortium certification.

“Our shrimp are of the highest quality, antibiotic free and our farms are fed directly from the pristine, crystal clear waters of the Red Sea. We consider ourselves a Saudi success story and consider Saudi Hollandi Bank our long-term partner for growth and expansion," concluded Al-Balla'a.

By Natalia Real
[email protected]
www.fis.com


 Print


Click to know how to advertise in FIS
MORE NEWS
Viet Nam
Aug 18, 02:40 (GMT + 9):
Pangasius shipments to US continue stable after recovering in Q2
Denmark
Aug 18, 01:50 (GMT + 9):
BioMar Group benefitted from European salmon market growth
Oman
Aug 18, 01:20 (GMT + 9):
Omani Govt. considers aquaculture projects for USD 2bn
Chile
Aug 18, 00:40 (GMT + 9):
Salmon exports grow 35 pct in the first half
Australia
Aug 17, 23:30 (GMT + 9):
Scientists reveal farmed salmon deafness cause
Norway
Aug 17, 22:50 (GMT + 9):
Salmon price status at week 32
Chile
Aug 17, 21:40 (GMT + 9):
Camanchaca wants to increase its salmon production in Aysen
United Kingdom
Aug 17, 02:20 (GMT + 9):
Benchmark offers solution to reduce salmon sea lice treatment pollution
Nigeria
Aug 17, 01:30 (GMT + 9):
Niger Govt settles USD 3.25bn deal for aquaculture project
Nigeria
Aug 17, 00:20 (GMT + 9):
Fish import quota to be stopped to boost aquaculture
Chile
Aug 16, 23:50 (GMT + 9):
ISA virus outbreaks fall 50pct in salmon sector
Norway
Aug 16, 03:10 (GMT + 9):
Calysta states its alternative protein offers excellent results in shrimp
French Polynesia
Aug 16, 01:20 (GMT + 9):
Chinese company is getting ready to start giant aquaculture project
Norway
Aug 15, 23:00 (GMT + 9):
Potentially cancerogenic parasite found in Vietnamese farmed pangasius
United States
Aug 15, 22:30 (GMT + 9):
Food business partners Ralco's shrimp producer



Lenguaje
FEATURED EVENTS
  
TOP STORIES
Sanctions against illegal fishing hardened to seek EU's green light
Taiwan The Taiwanese Government imposed fines in 109 cases of illegal fishing involving deep-sea fishing vessels from Taiwan as of the end of July.
Pacific salmon found in Irish rivers cause bewilderment
Republic of Ireland The finding of 30 pink salmon in nine rivers of the West Of Ireland since last June has caused concern among Inland Fisheries Ireland authorities, since this is a native species to the Pacific Ocean.
Hy-Vee deepens its commitment to responsibly sourced seafood products
United States Hy-Vee announced that all their national brand frozen seafood offered at their stores is responsibly sourced in compliance with the Midwestern grocery chain’s seafood procurement policy.
Chinese vessel captured in Galapagos with threatened shark species
Ecuador A Chinese flagged vessel with some 300 tonnes of fish, including at least two shark species considered vulnerable by Ecuadorian authorities, was detained in the Galapagos Islands marine reserve.
 
Maruha Nichiro Corporation
Nichirei Corporation -Headquarter-
Pesquera El Golfo S.A.
Ventisqueros - Productos del Mar Ventisqueros S.A
Wärtsilä Corporation -Wartsila Group Headquarter-
ITOCHU Corporation -Headquarter-
BAADER - Nordischer Maschinenbau Rud. Baader GmbH+Co.KG (Head Office)
Inmarsat plc - Global Headquarters
Marks & Spencer
Tesco PLC (Supermarket) - Headquarters
Sea Harvest Corporation (PTY) Ltd.
I&J - Irvin & Johnson Holding Company (Pty) Ltd.
Blue Continent Products (Pty) Ltd - (Oceana Group Limited)
Pesquera San Jose S.A.
Nutreco N.V. - Head Office
CNFC China National Fisheries Corporation - Group Headquarters
W. van der Zwan & Zn. B.V.
SMMI - Sunderland Marine Mutual Insurance Co., Ltd. - Headquarters
Icicle Seafoods Inc. -Headquarter-
Starkist Seafood Co. - Headquearters
Trident Seafoods Corp.
American Seafoods Group LLC - Head Office
Marel - Group Headquarters
SalMar ASA - Group Headquarters
Sajo Industries Co., Ltd
Hansung Enterprise Co.,Ltd.
BIM - Irish Sea Fisheries Board (An Bord Iascaigh Mhara)
CEFAS - Centre for Environment, Fisheries & Aquaculture Science
COPEINCA ASA - Corporacion Pesquera Inca S.A.C.
Chun Cheng Fishery Enterprise Pte Ltd.
Food Project (Siam) Co., Ltd.
VASEP - Vietnam Association of Seafood Exporters & Producers
Gomes da Costa
Furuno Electric Co., Ltd. (Headquarters)
NISSUI - Nippon Suisan Kaisha, Ltd. - Group Headquarters
FAO -Food and Agriculture Organization- Fisheries and Aquaculture Department (Headquarter)
Hagoromo Foods Co., Ltd.
Koden Electronics Co., Ltd. (Headquarters)
A.P. Møller - Maersk A/S - Headquarters
BVQI - Bureau Veritas Quality International (Head Office)
UPS - United Parcel Service, Inc. - Headquarters
Hamburg Süd Group - (Headquearters)
Armadora Pereira S.A. - Group Headquarters
NOAA - National Oceanic and Atmospheric Administration (Headquarters)
Omega Protein Corporation -Headquarter-
Marona S.A.
Marine Harvest ASA - Headquarters
Marubeni Europe Plc -UK-
Findus Ltd
Icom Inc. (Headquarter)
WWF Centroamerica
Oceana Group Limited
The David and Lucile Packard Foundation
Ajinomoto Co., Inc. - Headquarters
Friosur S.A. - Headquarters
Cargill, Incorporated - Global Headquarters
Benihana Inc.
Leardini Pescados Ltda
Mitsubishi Corporation Marine Products Depts. D.Team
CJ Corporation  - Group Headquarters
Greenpeace International - The Netherlands
David Suzuki Foundation
Fisheries and Oceans Canada -Communications Branch-
Mitsui & Co.,Ltd - Headquarters
Ocean Trawlers Group - Ocean Trawlers HK Ltd.
Natori Co., Ltd.
Carrefour Supermarket - Headquarters
FedEx Corporation -Headquarter-
AKBM - Aker BioMarine ASA
Seafood Choices Alliance -Headquarter-
Austevoll Seafood ASA
Walmart / Wal-Mart Stores, Inc. (Supermarket) -Headquarter-
New Japan Radio Co.Ltd (JRC) -Head Office-
Gulfstream JSC
INVE Group - Head Office
Marine Stewardship Council - MSC Worldwide Headquarters
Royal Dutch Shell plc (Headquarter)
Genki Sushi Co.,Ltd -Headquarter-
Iceland Pelagic ehf
AXA Assistance Argentina S.A.
Caterpillar Inc. - Headquarters
Tiger Brands Limited
Morpol ASA - Group Headquarters
SeaChoice
National Geographic Society
AmazonFresh, LLC - AmazonFresh

Copyright 1995 - 2017 Fish Info & Services Co.Ltd| All Rights Reserved.   DISCLAIMER