‎Saudi Arabia awards license to set up SAR 1.9 bln salmon farm

‎Saudi Arabia awards license to set up SAR 1.9 bln salmon farm

The Ministry of Investment signed an investment agreement with Pure Salmon Co., which targets the establishment of one of the largest salmon farming projects in the world in Saudi Arabia, using the Recirculating Aquaculture Systems (RAS) technology.

The agreement was signed in cooperation with the Ministry of Industry and Mineral Resources, and the Ministry of Environment, Agriculture and Water.

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 Program for the Development of Livestock and Fisheries Sector, marking the start 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.