Finely chop the onion, celery and capsicums.
Heat oil in a saucepan or pot at medium heat, add vegetables and cook stirring for 8-10 minutes, until they start to soften.
While vegetables cook, slice the chorizo. Rinse and drain the rice.
Add chorizo to the pot, cook for a minute while stirring occasionally.
Add rice to the pot, cookf for a minute while stirring frequently.
Add wine or vermouth, stir until liquid evaporates.
Add chicken stock, mix well and bring to a boil. Lower heat to low and cover. Let rice cook completely, about 15 minutes.
Add prawns, salt and smoked paprika. Mix well, cover again and cook until prawns are pink and firm.
Serve with chopped parsley, a squeeze of lemon juice and hot sauce if desired.