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
Spain
Apr 27, 22:20 (GMT + 9):
Andalusia streamlines administrative procedures in marine aquaculture sector
Ecuador
Apr 27, 21:40 (GMT + 9):
Artisanal fishermen bet on Pacific oyster farming
United States
Apr 27, 02:50 (GMT + 9):
Federal and state officials back shrimp antidumping duties
Norway
Apr 27, 01:20 (GMT + 9):
Salmon price status at week 16
Worldwide
Apr 26, 23:20 (GMT + 9):
Nearly one-quarter of all GSI farms are now ASC certified
United Kingdom
Apr 26, 02:30 (GMT + 9):
Scottish farmed salmon exports grow in value but drop in volume
Norway
Apr 26, 02:00 (GMT + 9):
Cermaq triples ASC certified sites in 2016
Norway
Apr 25, 23:50 (GMT + 9):
Lerøy to feed salmon with microalgae
Canada
Apr 25, 21:50 (GMT + 9):
Camelina oil approved for use in Atlantic salmon feed
Australia
Apr 25, 02:40 (GMT + 9):
Tassal’s statements on Macquarie improvements sound unconvincing to authorities
Hungary
Apr 25, 00:40 (GMT + 9):
Lower VAT on fish could benefit aquaculture
Viet Nam
Apr 24, 22:40 (GMT + 9):
Regulations for catfish exports to US to be tightened
Iceland
Apr 22, 01:50 (GMT + 9):
Icelandic Group starts sales process of UK operations
United States
Apr 22, 00:50 (GMT + 9):
ADM expands animal nutrition footprint in China
Netherlands
Apr 21, 22:50 (GMT + 9):
Aqua-Spark raises firther funds for aquaculture businesses



Lenguaje
FEATURED EVENTS
  
TOP STORIES
China reopens market to live Irish crab
Republic of Ireland Minister of Agriculture of Ireland reached an agreement with a Chinese official on the proposed certificate to accompany consignments of crab exports to the Chinese market, which should facilitate the resumption of the crab trade between both countries.
Microplastics dumped on Atlantic shores reach the Arctic
Spain A study performed by an international team of researchers for the first time outlines the large-scale transport of microplastics from the Atlantic ocean to the Arctic, and highlights the global extent that has reached this problem in just a few decades.
Environmentalists accuse Japan of not abiding by bluefin tuna catch quotas
Japan Japan is to break its commitment as to the international Pacific bluefin tuna catch limit, undermined by lax compliance, which has worried conservationists due to the resource weak status.
Seafish presents new tool to encourage seafood ethical sourcing
United Kingdom Seafood industry authority Seafish is to launch a comprehensive online signposting tool intended to direct users to a large number of free resources that are helpful to manage social risks in seafood supply chains.
 
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
Nueva Pescanova, S.L. - Group 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  -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 - 2017 Fish Info & Services Co.Ltd| All Rights Reserved.   DISCLAIMER