What Happened
The Norwegian company EcoFishCircle AS (EFC) has signed a comprehensive Memorandum of Understanding (MoU) with Hayal International Company LLC to develop a land-based fish-farming facility in Saudi Arabia. This facility is expected to have an annual production capacity of 10,000 tonnes of Atlantic salmon.
Why It Matters
This initiative is significant as it aligns with the Saudi Vision 2030 initiative, which aims to position the country as a leader in land-based aquaculture. EFC will utilize its Modular Recirculating Aquaculture System (mRAS) to ensure efficient water and energy use while minimizing environmental impact. Terje Mikalsen, Chairman of the Board of Directors of EFC, emphasized the importance of environmentally friendly solutions in increasing seafood production.
What’s Next
The project, named Blue Oasis, will not only provide technological solutions but also operational support from EFC. Hayal CEO Abdulrahm expressed enthusiasm about the partnership, highlighting the alignment of their ambitions with EFC’s advanced technological capabilities. This collaboration is expected to unlock new opportunities in the aquaculture sector.
