Welcome to FIS   Sponsored By
Subscribe to FIS | Register with FIS | Advertise with FIS | Newsletter | About FIS | Contact us
   


Pescanova aquaculture project at Mira plant. (Photo: Pescanova)

Turbot plant in Portugal becomes a dilemma for Pescanova

Click on the flag for more information about Spain SPAIN
Friday, June 20, 2014, 23:50 (GMT + 9)

Pescanova multinational firm and creditor banks have to decide whether to keep the turbot macro-plant located in Mira, Portugal, or not, since it is undergoing the urgent need to have working capital.

According to sources linked to the Galician company, some EUR 50 million would initially be needed to rescue the aquaculture factory in Portugal and maintain the activity.

The total debt faced by the Portuguese aquaculture plant reaches about EUR 200 million, the newspaper Faro de Vigo reported.

Meanwhile, the Portuguese entities -- which have the assets and shares of Acuinova Firsh farming Activities under pledging agreement – are only thinking about selling Europe’s largest turbot plant and rejecting the possibility of restructuring its financial debt.

The aquaculture plants are essential for the future Nueva Pescanova, mainly those farming vannamei shrimp, which are in Central America.

However, a factory as that in Mira requires a lot of money and working capital to be operated and to feed the fish. Besides, it needs a breeding centre for fry, which are then moved to big tanks for the fattening process.

According to some entrepreneurs in the sector, the business is "really risky" because the plant in Mira has already experienced two serious accidents, which caused the death of all the fish.

The Portuguese entities themselves admit that it is possible to reach agreements with prospective plant owners from Mira, who could be Stolt Sea Farm or the businessperson Américo Amorim.

Between 2007 and 2013, Pescanova invested approximately EUR 203 million in aquaculture projects in the Iberian peninsula, Deloitte stated.

According to the latest data available, 38 per cent of Pescanova’s turbot production remains in Spain, while 29 per cent is exported to Italy.

If Nueva Pescanova does not have the plant in Mira, the turbot fattening, breeding and production processes would be taken over by Insuiña, with plants in Oia, O Grove and Xove. In addition, Pescafresca will be the subsidiary in charge of most of the fishery product marketing.

Related article:

Pescanova sues builder for aquaculture facility faults

By Analia Murias
[email protected]
www.fis.com


 Print


Click to know how to advertise in FIS
MORE NEWS
Italy
Jun 26, 00:00 (GMT + 9):
FAO study urges smarter use of small pelagic species in Africa's lakes an river
Mexico
Jun 25, 21:30 (GMT + 9):
CIAD scientists develop aquaculture food that stimulates immune system of fish
Australia
Jun 25, 19:00 (GMT + 9):
IN BRIEF - Cooke Aquaculture collaborating on study to track sulphide levels on seabed near salmon farms
United Kingdom
Jun 25, 19:00 (GMT + 9):
IN BRIEF - Brindisa brings Nortindal Cuttlefish Ink to the UK
United States
Jun 25, 17:00 (GMT + 9):
Annual catch limit of 492,000 lb implemented for Deep 7 bottomfish in the main Hawaiian islands
Viet Nam
Jun 25, 17:00 (GMT + 9):
Shrimp exports to the EU will improve when the EVFTA takes effect
Canada
Jun 25, 16:50 (GMT + 9):
Mowi Canada West achieves World’s First Multi-site ASC Certification
United States
Jun 25, 16:10 (GMT + 9):
Cargill and InnovaFeed come together to propose sustainable and innovative feed options
United States
Jun 25, 15:00 (GMT + 9):
Official data of catfish, panga o basa fillets imports
Japan
Jun 25, 05:50 (GMT + 9):
Customs statistics of bigeye tuna imports
European Union
Jun 25, 05:00 (GMT + 9):
EU hails IOTC adoption of 'ambitious measures' on FADs
Chile
Jun 25, 04:00 (GMT + 9):
Council of Ministers approves modificationof Aquaculture Environmental Regulation
Peru
Jun 25, 03:30 (GMT + 9):
Scallop farming recovery expected to consolidate this year
Norway
Jun 25, 00:10 (GMT + 9):
Norwegian exports of fresh and frozen salmon in week 24
Chile
Jun 24, 22:50 (GMT + 9):
Artisanal fishermen reject postponement of giant squid law



Lenguaje
FEATURED EVENTS
  
TOP STORIES
EU countries agree to changes in the Fisheries Fund, which Brussels does not like
European Union The Member States approve flexibility rules and the European Commission believes that efforts in favor of sustainable fisheries are jeopardized.   The countries of the European Union closed an ...
First ever fisheries dialogue between the EU and Pacific Forum Fishery Agency
European Union POHNPEI -- For the first time in the Pacific region, a policy dialogue between the seventeen (17) Forum Fishery Agency (FFA) Members and the European Union (EU) to discuss issues and challenges relati...
Greenpeace Says Export of Fish Oil and Meal Is a Threat to Millions in Africa
Worldwide The environmental group said Wednesday, that the exporting of tonnes of fish oil and fish meal from Africa to China and Europe poses a serious danger to the diets of millions of Africans. Greenpeace,...
Official presentation of the new brand of 'The sustainable tuna of Ecuador'
Ecuador "The sustainable tuna of Ecuador" is the brand that was presented yesterday June 20 in Manta, in the framework of the 4th Regional Tuna Forum, which takes place in Manta. The event takes pla...
 
Maruha Nichiro Corporation
Nichirei Corporation - Headquarters
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
Sea Harvest Corporation (PTY) Ltd. - Group Headquarters
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
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.
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
Marona S.A.
Mowi ASA (formerly 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  - Group Headquarters
Greenpeace International - The Netherlands | Headquarters
David Suzuki Foundation
Fisheries and Oceans Canada -Communications Branch-
Mitsui & Co.,Ltd - Headquarters
NOREBO Group (former Ocean Trawlers Group)
Natori Co., Ltd.
Carrefour Supermarket - Headquarters
FedEx Corporation - Headquarters
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 - 2019 Fish Info & Services Co.Ltd| All Rights Reserved.   DISCLAIMER