Summary of Proposed Investment
Project Number
7700
Company Name
PIIF Solander (Pacific) Limited
Date SPI Disclosed
Jul 11, 1996
Country
Fiji
Industry
Agribusiness and Forestry
Status
Completed
Sector
Seafood Product Preparation and Packaging
Department
Regional Industry - MAS Asia & Pac
Environmental Category
FI
Previous Events
Approved : Feb 23, 1995
Invested : Jan 28, 1997
Project Description
REVISED Summary Of Project Information (SPI)
| Project Name | Fiji-Solander Pacific Limited |
| Region | Asia - Pacific |
| Sector |
Projected Board DateAugust 31, 1996
Company NameSolander Pacific Limited,Fiji
Technical Partner and/or Major Shareholders
Solander Pacific Limited is based in Suva, Fiji. Technical assistance and training will be given to Solander to help prepare a detailed study of the existing tuna long lining operations of the company. Financing wll be provided to help the company expand its operations.
Project Cost Including proposed IFC investment
Total project cost is estimated at US$750,000, of which US$350,000 equivalent Yen denominated venture loan is being proposed by IFC(through PIIF, the Pacific Isands Investment Facility).
Location of project and Description of site
The project will based in Suva, Fiji.
Description of Company and Purpose of Project
The project involves the expansion of Solander’s tuna longline operation in Fiji by the funding and purchase of an additional vessel. A proposed 7 year loan of US$ 350,000 equivalent Yen denominated will be made to Solander Pacific Limited by IFC’s Pacific Islands Investment Facility (PIIF). This would allow Solander to increase its tuna catch, for export to Japan’s sashimi market.
Environmental Category and Issues
This is a category B project according to IFC’s environmental review procedure because specific impacts may result which can be avoided or mitigated by adhering to generally recognized standards, guidelines or design criteria.
The is from the Public Information Center.
| Date SPI sent to PIC: | June 25, 1996 |
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 676-0365
Sponsor / Cost / Location
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