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Arabian Shrimp Company (ASCO)
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| Location Map | Artist's Design of Shrimp Farm | Mangroves Planted for Environmental Protection | Beautiful Shrimp Grown in Pristine Waters |
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| Staff Viewing the Ponds | Casting for Shrimp Harvest | Shrimp Caught |
The Arabian Shrimp Company
The success of shrimp farming in the region has been validated by the Oman International Shrimp Company SAOC, a joint venture between DevCorp, Sea Farms International (one of the largest integrated shrimp farming operations in the world), and Omani investors. Following the successful start-up in Oman, DevCorp formed a regional company to promote and invest in aquaculture named Aqua Farms Corporation B.S.C (c) to take advantage of the technology and experience gained in its association with Sea Farms International and its Oman project. In 2002, Aqua Farms initiated planning, surveys, and government approvals for a large shrimp farming project in Saudi Arabia to be named Arabian Shrimp Company.
In May, 2004, the Saudi Ministry of Agriculture and the Arabian Shrimp Company signed a 20-year lease agreement for a 7500 hectare plot on the coast north of Jizan. The project will include 5000 hectares of shrimp producing ponds and integrated hatcheries and processing plants. Construction of the ponds for the first stage of 700 hectares began in 2005 with the first crop expected in third quarter 2006.
The
High Health Breeding Center (HHBC) currently has nine working ponds in its
domestication program for the indigenous shrimp (p. monodon).
Six additional ponds focus on broodstock development.
Mature gravid females and shrimp weighing up to 45 grams have been
produced. Excess shrimp from the
HHBC ponds have been successfully sold on the local market.
The
ground and pilings are being prepared for the construction of the shrimp
processing plant which will open in the fourth quarter 2006 in Al Qawz, Saudi
Arabia. The training program for
labor has been established and is currently in operation for heavy equipment
drivers employed in the construction phase.
The
Arabian Shrimp Company continues to work closely with the Ministry of
Agriculture to insure adequate environmental controls and with other Jizan
government institutions to contribute positively to the economic development of
the Jizan area.
Shrimp farming is particularly valuable to the Saudi economy as it makes use of Saudi Arabia’s natural resources in a sustainable fashion to provide a food product welcome at the Saudi table and an export product for international markets. In conjunction with the vertically integrated shrimp farm Arabian Shrimp Company will build a state of the art processing plant for value-added products for the international and local market.
- Foreign/technology partner: Aqua Farms Corporation B.S.C. (c)
- Proposed investment: 50% SOLP and AquaFarms Ltd., 50% Saudi investors and Arab Authority for Agriculture Investment and Development (a pan-Arab financing institution owned 22% by the Saudi Government)
- Financing through Arab Authority for Agriculture Investment and Development and Saudi Agriculture Bank (in process)
- Estimated investment: Phased investments over six years
