27 December, 2011 - A memorandum of understanding aiming at evaluating USD 1 billion aquaculture investment opportunities in Mauritania was signed here on Saturday.
The National Prawn Company (NPC) and the Islamic Corporation for the Development of the Private Sector (ICD) signed the deal to provide advisory services including an alliance between the NPC and Al-Rajhi International Investment Company (RAII) and the ICD.
ICD is the private sector member of the IDB Group.
It was signed by ICD CEO and General Manager Khaled Al-Aboodi and NPC Managing Director Ahmad R. Al-Balla, on behalf of NPC and RAII alliance.
The deal was signed at the headquarters of the Islamic Development Bank Group (IDB) in Jeddah.
The memo stipulates that the ICD will provide comprehensive consulting, financial and legal services including the evaluation of the regulatory and legal environment in Mauritania as well as facilitating investment mechanism and carrying out feasibility studies and financial structure of projects.
These studies would help in developing a comprehensive legal and investment framework that would organize the partnership with the Mauritanian government and reinforce the resources mobilization necessary for starting the company’s projects on the ground.
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