Saudi Fisheries signs MoU with ARASCO for Al-Huraydah factory operation

Logo of Saudi Fisheries Co.

Saudi Fisheries Co. signed today, Oct. 19, a non-binding memorandum of understanding (MoU) with the Arabian Agricultural Services Co. (ARASCO).

The MoU, which will be effective for six months from the date of the signature, is renewable.

The two parties will consider future cooperation regarding the manufacturing and commercial operation of the company’s under-construction feed factory for seafood at Al-Huraydah in Aseer region.

There is no financial impact on the financial statements currently, the statement said, adding there are no related parties.

Any new developments will be announced in due time.

In 2013, the company announced the establishment of a feed factory for seafood in Aseer region with a production capacity of 20 tons per hour and an annual capacity of 96,000 tons to support its shrimp and fish projects as well as market the surplus for similar projects, according to data available with Argaam.

In 2015, Saudi Fisheries signed a contract worth SAR 7.9 million with Al-Aman Al-Motamayez Foundation for executing civil works for the factory.