Welcome to FIS   Sponsored By
United States
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
editorial@fis.com
www.fis.com


 Print


Click to know how to advertise in FIS
MORE NEWS
Chile
Jan 29, 00:40 (GMT + 9):
Blumar executive to head up Chile-China salmon alliance
Canada
Jan 27, 03:00 (GMT + 9):
Aquaculture's contribution to NL economy grows 10 times
Chile
Jan 26, 23:20 (GMT + 9):
New health programme to fight sea lice
Chile
Jan 23, 23:00 (GMT + 9):
Official caution after merger between Marine Harvest and AquaChile
United States
Jan 23, 22:40 (GMT + 9):
Congressmen introduce bills to ban GE salmon
Norway
Jan 23, 20:50 (GMT + 9):
Salmon price status at week 4
Chile
Jan 23, 02:50 (GMT + 9):
Government proposes to freeze aquaculture concessions for five years
Chile
Jan 22, 02:00 (GMT + 9):
Invermar still owes USD 12.3 million to banks
Chile
Jan 20, 21:30 (GMT + 9):
Deepening of trade agreement with Japan sought
Norway
Jan 20, 00:50 (GMT + 9):
Marine Harvest posts drop in Q4 earnings
Chile
Jan 19, 23:00 (GMT + 9):
Marine Harvest Chile to merge with AquaChile
United States
Jan 19, 01:30 (GMT + 9):
Alaska seeks to elucidate relationship between wild and farmed salmon
Chile
Jan 16, 22:00 (GMT + 9):
Los Fiordos faces charges for 'environmental breaches'
Norway
Jan 16, 21:30 (GMT + 9):
Salmon price status at week 3
Chile
Jan 15, 21:20 (GMT + 9):
AquaChile and Invermar deny negotiations restart



Lenguaje
FEATURED EVENTS
  
TOP STORIES
NGOs applaud suspension of fish imports from Sri Lanka
European Union Fisheries Ministers of the EU agreed in Brussels to punish Sri Lanka for not fighting illegal, unreported and unregulated fishing, imposing trade restrictions upon it.
BC company buys 700,000lb of sea cucumber for Chinese market
Canada British Columbia- based aquaculture company Gourmet Ocean Products Inc. announced that it has recently bought about 400,000 pounds of mature sea cucumber.
Pangasius exporters to pay higher tariffs in the US
Viet Nam The Vietnamese tra fish exporters will face higher tariffs for their products to enter the US market.
Dutch Fund announces two 'crucial' investments in aquaculture industry
Worldwide Aqua-Spark investment fund will allocate USD 4 million for "cucial nvestments" in two new business aimed at a more sustainable, clean and healthy way of farming seafood.
 
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 (Head Office)
Inmarsat plc - Global Headquarters
Marks & Spencer
Tesco PLC (Supermarket) - Headquarters
Pescanova, S.A. - Group Headquarters
Sea Harvest Corporation (PTY) Ltd.
I&J - Irvin & Johnson Limited
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 ehf - 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-
Grupo Calvo - Luis Calvo Sanz, S.A. (Group 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. -Headquarter-
Friosur S.A. - Headquarters
Cargill, Incorporated - Global Headquarters
Benihana Inc.
Leardini Pescados Ltda
Mitsubishi Corporation Marine Products Depts. D.Team
CJ Corporation  -Holding Headquarter-
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 - 2015 Fish Info & Services Co.Ltd| All Rights Reserved.   DISCLAIMER