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September 14, 2015

Australia

Seafarms Hires Pareto to Handle Funding for Huge Shrimp Farm

 

Seafarms Group has hired Nordic investment bank Pareto Securities to help it secure financing for its $1.4 billion shrimp farming project in northern Australia.

 

Seafarms said it had recently begun a feasibility study for its Project Sea Dragon and expected to finish that and complete all approvals and licenses to operate the project by the end of 2016.

 

The proposed 10,000-hectare tiger shrimp aquaculture facility has been awarded major project status by the Northern Territory and Federal Government.

 

Seafarms said Pareto was a global full service investment bank with offices in 11 countries and a staff of 400.  It has specialized experience in the global seafood market.

 

“With Pareto’s assistance, Seafarms is confident that an appropriate and flexible financing package for stage one (1,080 hectares) can be secured,” the company said in a statement.

 

Seafarms said it was open to a range of financing options including equity raising, equity directly in the project, mezzanine financing or debt funding.

 

Source: The West Australian.  Seafarms Hires Pareto for Funding.  September 14, 2015.

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