Business briefs

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State OKs loan to shrimp farm

Kaua'i shrimp farming operation Ceatech USA Inc. has received approval for a $1.8 million loan from the state Board of Agriculture to build more shrimp ponds.

The state will give Ceatech a seven-year loan, amortized over 15 years, in an effort to help it reach profitability. Remaining debt would be paid off with a balloon payment.

Under the agreement, Ceatech is required to meet certain performance goals. All the money must be disbursed by June 2004.

Firm to produce dengue vaccine

'Aiea-based Hawai'i Biotech this week said it chose Meridian Bioscience Inc. to produce a vaccine for viruses that cause dengue fever.

Production of the vaccine for human clinical trials should begin within a year, said company president David Watumull. However, key hurdles remain, including additional animal tests and the need to raise more money to continue the testing process, he said.