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- Operations
- Seafood Products Factory
Seafood Products Factory
Mauritania
Borrower | Societe d'Elaboration des Produits Halieutiques S.A. |
Financing Type | Private Sector & Trade Finance |
Instrument | Private Sector Debt |
Focus Area | Industry |
Approved | 20.12.2005 |
Signed | 21.03.2006 |
Status | Completed |
Loan Administrator | OPEC Fund |
Co-financiers | EIB, Shareholders |
OPEC Fund Contribution (US$m) | 4.00 |
Société d’Elaboration des Produits Halieutiques S.A. (SEPH) is a project involving the design, construction, commissioning and operation of a fish processing factory, together with the acquisition of a number of fishing vessels. This loan forms part of a US$9.5 million financing package. Development of the fishing sector is one of the priorities of the government of Mauritania and this project will have a major impact on its future growth. In addition, the project will create a large number of employment opportunities, thus aiding overall economic development and poverty reduction.