Jazan Energy and Development Company announces that an associate company (Tabuk Fish Company) has signed a Memorandum of Understanding with NEOM

07/04/2021 Tadawul
ELEMENT LIST EXPLANATION
Announcement Detail Jazan Energy and Development Company (JAZADCO) announces the that on April 06, 2021, its associate company (Tabuk Fish Company), which Jazan Energy and Development Company owns 20% of its capital, has signed a memorandum of understanding with NEOM Company to develop the largest fish farm in the Middle East and North Africa. The MOU was sponsored by His Excellency the Minister of Environment, Water and Agriculture Eng. Abdulrahman bin Abdulmohsen AlFadley

 

This agreement aims to expand local aquaculture production, apply new aquaculture technologies in the NEOM area and secure the necessary investments to gradually reach a production capacity of seventy million fry. In addition, the agreement aims to develop an integrated system that aligns with the best practices in the aquaculture industry, which will contribute to achieving the Kingdom's goal of producing 600,000 tons of fish products by 2030 and placing the Kingdom at the forefront of the leading countries in sustainable aquaculture.

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