Zhanjiang Guolian Aquatic Products offers shrimp and tilapia fingerlings, aquatic feeds, primary processing products and processed foods.
Zhanjiang Guolian Aquatic Products
Zhanjiang Guolian Aquatic Products and Saudi Arabia's sovereign wealth fund have decided to terminate 'Announcement on Signing of Memorandum of Understanding with Public Investment Fund Asia Division' signed in June 2023.
In more detail, the two parties have not reached a "substantive" formal agreement y have decided to make this decision based on the actual situation and an after mutual consultation.
According to a statement, the Memorandum was only an "intention" agreement for cooperation and does not have legal effect. Therefore, the Company's performance or production operations will not have adverse consequences. The future development strategies and business plans will continue as scheduled.
Guolian Aquatic was going to receive financial assistance of $560 million from Saudi Arabia's sovereign fund to promote to seafood trade projects related with trading platforms and acquisitions.
In addition, there was a budget allocated for $60 million credit for its global seafood acquisition process, at an annual interest rate of 3%, and a 20% reduction in income generated by the loan, the company reported.
Zhanjiang Guolian Aquatic Products is a China-based company primarily engaged in the cultivation, processing, trading, research, and development of aquatic products.
The company's main products include shrimp and tilapia fingerlings, aquatic feeds, primary processing products, processed foods, and others. The Company distributes its products in both domestic and foreign markets.
