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National Prawn Co. gets $122m to expand National Prawn Co. gets $122m to expand

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By SeafoodSource staff
29 May, 2012 - Saudi Arabia’s National Prawn Company has secured Islamic financing worth SAR 460 million (USD 122 million) to fund its expansion plans.

An agreement has been signed with Saudi Hollandi Bank to support the firm’s long-term growth ambitions, including the second phase development of its Red Sea prawn and fish cultivation projects, a statement said.

The facility will be used to expand the company’s projects at Al-Laith, 180 kilometers south of Jeddah, and help grow exports which currently reach markets in Britain, Spain, Japan, Korea, America, China and Australia.

Click here to read the full story from Arabian Business >


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