Kutxabank and ICO finance Balenciaga's construction of an aquaculture vessel
27 July 2020
- Both entities will enter into the 19.2 million euro operation in equal parts
- The salmon vessel will be equipped for fish transport and on-board processing, and will have hybrid propulsion to minimise emissions
- Norwegian shipowner Samlaks AS, an expert in marine farms and the sustainability of protected ecosystems, is the recipient of the vessel
The Basque shipyard Balenciaga, part of PYMAR, has obtained financing from Kutxabank and ICO for the construction of an aquaculture vessel for the Norwegian shipowner Samlaks. Both entities will enter into the 19.2 million euro operation in equal parts
This vessel will be used for transporting and processing mainly salmon, and was designed to be used in the aquaculture field, an activity that promotes the sustainability of the marine environment while avoiding the negative effects of overfishing on the ecosystem.
It will have a maximum length of 49.70 meters, a beam of 13.20 meters and capacity for a crew of twelve. The ship will have hybrid propulsion, to minimise emissions, and will be equipped to incorporate hydrogen fuel cells to achieve zero emissions and silent navigation.
In the last five years, Balenciaga has delivered 10 vessels to renowned international shipowners. For PYMAR, a company that brings together the main private Spanish shipyards and that has collaborated closely with Balenciaga, Kutxabank and ICO in obtaining this financing, "the quality and technical complexity of its constructions has made this shipyard very well positioned in the market for vessels in the aquaculture sector".
Samlaks AS is a company that emerged from the integration of companies with extensive experience in the aquaculture sector and with a clear orientation towards sustainable policies suited to ecosystems that are protected because of their high biological value.
PYMAR is a company that brings together the main private Spanish shipyards to pursue the interests of shipbuilding both in Spain and in Europe as a whole. It works in collaboration with the State Administration and the autonomous communities. It has key instruments to help improve and boost the sector's competitiveness, such as the Naval Guarantee Fund, and provides technical, legal and fiscal advisory services to both shipyards integrated into the company and to financial entities that facilitate the materialisation of their construction projects.