His Excellency the Minister of Environment, Water and Agriculture sponsors the signing ceremony for the merging of four Saudi aquaculture companies to form a new entity with a market value of SR 500 million that contributes to achieving the objectives of the Kingdom’s Vision 2030.

Under the patronage of His Excellency the Minister of Environment, Water and Agriculture, Eng. Abdulrahman bin Abdulmohsen Al-Fadhli, and in the presence of His Excellency the Undersecretary for Agriculture, Eng. Ahmed Al-Ayada, and His Excellency the CEO of the National Program for the Development of the Fisheries Sector, Dr. Ali bin Mohammed Al-Sheikhi, the first merging in the aquaculture sector was signed today, Thursday, January 30, 2030. four national companies working in the field, including Jazadco, Tharwat Seas Company, Tabuk Fish eries Company and Al Sharq Farms Company, to form a new entity with a market value of 500 million riyals.

His Excellency Eng. Al-Fadhli praised this step, stressing that this merging will contribute to achieving the Ministry's objectives in raising the productivity of local aquaculture, which will help achieve the objectives of the Kingdom of Saudi Arabia's Vision 2030, which has adopted the aquaculture sector among the promising industrial sectors. He also explained that the second phase will witness the merging of a number of local and international companies in the sector.

His Excellency added that aquaculture is one of the sectors that attract local and international investments, indicating that this effort was achieved under the auspices of the Ministry, with the support and empowerment of the Agricultural and Industrial Development Fund, and the serious desire of governmental and semi-governmental funds to enter this field, which has become a promising market for investors. The ceremony, which was held at the Ministry's headquarters, witnessed the signing of the merger agreement between the companies, and a review of the production stages, which is expected to start at 60,000 metric tons in the first phase and double to 120,000 metric tons in the second phase, as the company aims to reach 300,000 tons. metric by 2035, and the new company will contribute to achieving the goals of “Vision 2030” in the aquaculture sector, and share the resources of the Red Sea with consumers around the world in order to achieve the goals of food security in the Kingdom, through innovative and sustainable production systems, to become a global leader in the fields of Cultivation of fish and shrimp by operating integrated farms according to the latest systems and technologies.