Land-based fish farm developer Pure Salmon signed an agreement with Saudi Arabia to establish a salmon farming project in the country.

“The project investment is SAR 1.9 billion (USD 506 million). This exciting project is not only poised to meet the needs of the local market but also has the potential to be a significant exporter, taking advantage of the kingdom's strategic location,” the Ministry of Investment of Saudi Arabia said.

“Pure Salmon’s vision and values are fully aligned with the Saudi government’s Vision 2030 which focuses on food security, the diversification of the economy and the development of disruptive sustainable industries within the kingdom. The country plans to expand the local aquaculture industry to reach 600,000 tonnes per year by 2030 and we are proud to contribute to the realization of this vision. Pure Salmon Kaldnes will bring its cutting-edge RAS technology to the Kingdom of Saudi Arabia. This investment will create hundreds of direct and indirect skilled jobs and, through Pure Salmon Academy and in partnership with local educational institutions, will groom and train the next-generation aquaculture specialists,” said Stephane Farouze, chairman and founder of Pure Salmon.