Riyadh – Mubasher: Saudi ministry of environment, water and agriculture said on Monday that it is planning to establish an aquaculture company at a value of SAR 1.2 billion, Saudi newspaper Alhayat reported.
The firm will be under public-private partnership and it is expected to start operation within a year, as 60% of paperwork has been completed, the ministry’s undersecretary Ahmed Al Ayada told Alhayat.
He noted that the company will focus on fish farming, and will also have side operations in cattle and poultry farming.
The target for the company is to increase production to almost 100,000 tonnes to develop local markets, Al Ayada said.
The undersecretary pinpointed that the ministry is working on making insurance on all aquaculture projects obligatory in the coming period.
