17 Rabi' I 1445 - 2 October 2023
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Eye of Riyadh
Business & Money | Tuesday 28 March, 2023 4:43 pm |

Aquaculture Industry Set for Major Growth with Blue Aqua International, Bahwan Services and Trading LLC and Muscat Investment House Partnership

Blue Aqua International, Bahwan Services and Trading LLC (“BSTL”), and Muscat Investment House ("MIH”) have announced a strategic partnership to develop major aquaculture projects in Singapore and Oman. The partnership aims to support the sustainable growth of the aquaculture industry and address food security concerns globally.

Blue Aqua International will partner with BSTL and MIH on a multi-phase aquaculture development project in Oman. This includes the country’s first state-of-the-art aqua feed mill with a production capacity upwards of 30,000 tonnes of feed, a high-tech trout farm capable of producing 3,000 tonnes and a super-intensive shrimp farm using Blue Aqua’s patented Mixotrophic System (in 8 countries) to produce 1,000 tonnes of shrimp annually. 

With this partnership, Blue Aqua International, BSTL and MIH aim to support Oman's Vision 2040 by creating a world-class aquaculture project in the country, which will contribute to the economic diversification and growth of Oman while also addressing the increasing demand for sustainable seafood products globally.

"This partnership is a significant step towards the development of Oman's aquaculture sector and underscores the potential of the country to become a major player in the global seafood market," said Dr. Farshad Shishehchian, CEO of Blue Aqua International. "With our cutting-edge technology and BSTL’s expertise in project management and execution, we are confident that we can create a sustainable and profitable aquaculture project in Oman."

Quote from BSTL representative here

We are thrilled to announce our new aquaculture project partnership. By combining our expertise and resources, we are poised to make a significant impact in sustainable seafood production. Our shared commitment to responsible aquaculture practices will not only benefit the environment but also provide high-quality, nutritious seafood to consumers in Oman and around the world. We are confident that this partnership will drive innovation and growth, and we look forward to the positive impact we will make together.

In addition to Bahwan Service & Trading LLC's stake in Blue Aqua Singapore Pte. Ltd., MIH owns a 10 percent stake in the same entity established under Blue Aqua International. Together, these investments will support the development of Singapore's first high-tech trout farm, which is expected to produce upward of 3,000 metric tonnes annually in a space of 1.6 hectares using super-intensive technology. The project is expected to be completed in 2024 and will contribute to Singapore's '30 by 30' food security initiatives.

Blue Aqua Singapore Pte. Ltd is currently operating The Aquaculture Stewardship Council (ASC) certified super-intensive shrimp farm producing Kuruma Shrimp (Marsupenaeus japonicus), Tiger Shrimp (Penaeus monodon) and White Shrimp (Litopeneaus vannamei) using Blue Aqua’s patented aquaculture method, a multi-species, zero waste, super-intensive culture system.

The partnership aims to create a sustainable model for urban aquaculture and address food security concerns globally. With this partnership, Blue Aqua International, BSTL, and MIH are committed to contributing to the development of the aquaculture industry and supporting economic diversification in the regions.


Quote from MIH representative here

We are excited to announce our new partnership in the aquaculture industry. Our mission is to provide sustainable and responsible seafood to meet the growing demand while preserving our oceans' delicate ecosystems. With this partnership, we are committed to leveraging our collective expertise to drive innovation and efficiency in our operations, delivering top-quality products that meet the highest standards. Together, we will create a brighter, more sustainable future for both our business and the environment.

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