Saudi Fisheries extends MoU with ARASCO for second time

Logo of Saudi Fisheries Co.

Saudi Fisheries Co. (Asmak) announced today, July 19, extending the memorandum of understanding (MoU) signed with Arabian Agricultural Services Co. (ARASCO) for three months from July 20, 2022 to October 19, 2022, with the same agreed-upon terms and conditions, according to a bourse filing.

In October 2021, Saudi Fisheries signed a non-binding MoU with ARASCO to consider future cooperation for the manufacturing and commercial operation of the company’s under-construction aquatic feed factory at Al-Huraydah, Aseer region. The MoU was re-extended for three months from April 20, 2022 to July 19, 2022, according to data available with Argaam.

In 2013, the company announced establishing an aquatic feed factory in Aseer, with a production capacity of 20 tons per hour and an annual capacity of 96,000 tons, to support its shrimp and fish projects, and marketing the surplus for similar projects.

In 2015, Asmak signed a SAR 7.9 million contract with Riyadh-based contracting firm Al-Aman Al-Motamayez Foundation for executing civil works for the seed factory and its accessories.