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Wednesday, March 11, 2009
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Saudi Firm Invests US$300 Million in Aquaculture

SAUDI ARABIA - Saudi Arabian investors are reportedly planning to pump large sums into developing aquaculture projects not only in the region, but in depressed areas of Asia and Africa.

The Saudi-based National Prawn Company (NPC) intends an initial investment of USD 300 million (Dh1.1 billion) to start large-scale fish production in Saudi Arabia and other Gulf countries, says the latest edition of Hatchery International.

The aim, says the report, is to farm kingfish, cobia, barramundi, mahi mahi and milkfish with aquaculture installations on waste coastal desert land. “We’re looking at fish farming in various GCC countries” the company is reported as saying.

“There are a lot of opportunities to develop unused desert land in coastal areas in the region. We are also looking at viable projects in African countries which have deserts adjoining coastal regions.”

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