Saudi Fisheries says won’t proceed with aquaculture feed factory project

Logo of Saudi Fisheries Co. (Alasmak)

Saudi Fisheries Co. (Alasmak) announced today, Oct. 19, that it will not proceed in cooperation with Arabian Agricultural Services Co. (ARASCO) for the manufacturing and commercial operation of the company's aquaculture feed factory, which is under construction, in Al-Huraydah, Aseer.

No costs are related to this decision, Saudi Fisheries added in a statement to Tadawul.

In October 2021, the company signed, a non-binding memorandum of understanding (MoU) with ARASCO for future cooperation regarding the aquaculture feed factory, Argaam earlier reported.

The MoU was extended twice from April 20-July 19, 2022, and from July 20-Oct. 19, 2022.

In 2013, the company announced a plan to establish an aquaculture 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.

In 2015, Saudi Fisheries signed a SAR 7.9 million contract with a Riyadh-based contracting company to begin the civil works of the factory.