Omarsa II

completed

Operadora y Procesadora de Productos Marinos (“Omarsa” or “the Company”), an IFC client since 2015 (US$10 million A loan, project number 36819), is an Ecuadorian fully integrated hatcher, processor, and exporter of shrimp. Established in 1977, Omarsa is currently Ecuador’s third largest shrimp exporter. The company owns three hatcheries, three shrimp farms totaling 3,400 productive hectares, and one processing plant with a capacity of 25 thousand tons per year. Shrimp farms are located in Chupadores Grande Island (Cachugran), Puna Island, and the sector of Chongon. The company is certified to multiple internationally-recognized sustainability and food safety standards including Aquaculture Stewardship Council (ASC), British Retail Consortium (BRC), Naturland Organic and GlobalGAP as described below. The company purchases up to 70 percent of its process throughput from about 200 third-party medium and large shrimp farmers (from 200 up to 3,000 ha). Omarsa’s workforce in 2016 totaled 1,833 people in the processing plant and 575 people in the shrimp farms. IFC’s first investment was aimed at supporting the expansion of the company’s production and processing capacity, including 500 hectares of new ponds in its Puna shrimp farm. The company has approached IFC for a second US$8 million A loan to fund the construction of an additional processing/packing facility in Duran, outskirts of Guayaquil, Ecuador, with an initial capacity to process 268,000 pounds of shrimps per day and a cold storage capacity of 2 million pounds (“the Project”). Total project cost stands at US$13.2 million.