- Partnership with ARASCO and Cargill looks to meet rising domestic demand for aquaculture
- “Agreement will address the need to replace fishmeal with more sustainable fish feed,” says Head of NEOM Food
- Signing highlights PIF’s strategy to develop key sectors, including food and agriculture
The PIF-owned giga-project NEOM has signed an agreement with the Arabian Agricultural Services Company (ARASCO) and international agribusiness company Cargill to explore collaboration on the sustainable growth of the Saudi aquaculture market.
The partnership aims to achieve a self-sufficient seafood-production industry while minimizing its environmental impact, to help feed a growing population and boost food security.
The signing aligns with Saudi Vision 2030’s aim to diversify the economy, with sustainability at its heart, along with PIF’s strategy, which focuses on developing and enabling key sectors, including food and agriculture.
With research and development into best practices a key component, the partnership will contribute to increasing sustainable ways to meet rising local demand for acquaculture.
Dr. Juan Carlos Motamayor, Head of NEOM Food, said: “Aquaculture offers the most sustainable way to produce protein in terms of water consumption and carbon emissions to arid countries such as Saudi Arabia. This agreement will ultimately lead to addressing the need to replace fishmeal with more sustainable fish feed."
Helen Ziv-Douki, Global President of Cargill’s Aqua Nutrition business, said: “Providing sustainable protein to feed the growing population requires all of us working together."
