Saudi Arabia strengthens its aquaculture industry with new partnership agreements

A project to produce 20,000 finfish per year and a partnership with Pure Salmon were unveiled by NEOM food company.

Credits: NEOM
February 7, 2024

NEOM, an urban project in north-western Saudi Arabia, announced the establishment of an aquaculture joint venture with Tabuk Fisheries Company. Endorsed by the Ministry of Environment, Water and Agriculture (MEWA), the joint venture, Topian Aquaculture, aims to support the National Livestock and Fisheries Development Programme in achieving its ambitious goal of producing 600,000 tons of fish products annually by 2030.

The joint venture builds on the Memorandum of Understanding between NEOM and Tabuk Fisheries Company signed in 2021 and will establish Topian Aquaculture. The venture will include a hatchery that is expected to become the largest in the MENA region by the end of 2024 and has a planned capacity of 42 million fingerlings and marine pens, with the production of finfish in the pens projected to reach 20,000 tonnes per year.

Topian, the NEOM Food Company, is the key facilitator of the venture, which aligns with its commitment to developing a robust, sustainable aquaculture sector in the Kingdom to support food security and self-sufficiency and ensure the production of fresh, healthy seafood in Saudi Arabia and beyond. This strategic agreement, unveiled at the Saudi International Marine Exhibition (SIMEC) in Riyadh, outlines Topian Aquaculture’s role in advancing the aquacultural landscape locally and regionally.

Nadhmi Al-Nasr, CEO of NEOM, said that “Topian Aquaculture reflects NEOM’s mission to implement innovative solutions that strengthen key industry sectors while mitigating our impact on the environment. The strategic joint venture with Tabuk Fisheries Company highlights the role collaboration plays in NEOM’s goal of redefining business and meeting the national objectives of Saudi Arabia.”

Partnership with Pure Salmon

Topian also signed a Memorandum of Understanding (MoU) with Pure Salmon to establish a facility at NEOM that will cover the full value chain of salmon production. The facility, which will be the first of its kind in the region, will address the high demand for salmon in the Kingdom and neighboring countries by delivering local products marked by freshness, quality, and taste.

“We are thrilled to announce Pure Salmon's strategic collaboration with Topian, the NEOM Food Company, to reshape the future of the aquaculture industry. This partnership underscores our shared commitment to innovation, sustainability, and food security — a commitment that resonates with the Saudi Vision 2030. We look forward to working with NEOM to drive positive change and deliver high-quality protein solutions in the Kingdom and beyond,” said Stephane Farouze, chairman and founder of Pure Salmon.