Proximar Seafood draws from ¥8.8 billion blue-sustainability loan

By Marisa Wong

Los Angeles, June 5 – Proximar Seafood AS, through subsidiary Proximar Ltd., made the first drawdown under its ¥8.8 billion blue-sustainability loan facility provided by Mizuho Bank, Shizuoka Bank and Development Bank of Japan, according to a news release.

Part of the proceeds from the drawdown will be used to finance the completion of a land purchase agreement with Daiwa House. The land has until now been partly financed through a seller credit granted by Daiwa House, the main contractor to Proximar.

The company reported that construction of its grow-out facility is continuing with high activity and is expected to be completed in third quarter 2023.

Proximar is a Norwegian land-based salmon farming company with its first facility and production in Japan.

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