Ministry of Investment signs agreement to set up world’s salmon farming project in the world

16/02/2023 Argaam

Ministry of Investment signs agreement to set up world’s salmon farming project in the world

The agreement signing

The Ministry of Investment signed an investment agreement with Pure Salmon Co., in cooperation with the Ministry of Industry and Mineral Resources, and Ministry of Environment, Water and Agriculture.

 

The agreement aims at the establishment of one of the largest salmon farming projects in the world in Saudi Arabia, using the Recirculating Aquaculture Systems (RAS) technology.

 

The project will have an investment value of SAR 1.9 billion, according to the ministry.

 

The company received the operating license from the National Fisheries Development Program (NFDP), marking the commencement of its business in the Kingdom.

 

Furthermore, the project will contribute to fulfilling the needs of the local market and exporting the surplus to global markets, capitalizing on the Kingdom's strategic location, the ministry added.

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