United Arab Emirates-based investment and holding company ADQ has announced a new partnership with Finland-based aquaculture technology company Finnforel, aimed at eventually developing a 3,000-metric-ton (MT) recirculating aquaculture system (RAS) farming rainbow trout.
The partnership is part of the emirate’s ongoing goal to increase aquaculture output and ease pressure on wild fish stocks, and the farm, if determined to be practicable, would be located in one of 12 zones designated for aquaculture purposes within the AD Ports Group-created Khalifa Economic Zones Abu Dhabi (KEZAD) Group, adjacent to the Khalifa Port, Abu Dhabi’s main deepwater port.
“Upon satisfactory conclusion of the feasibility stage, the development of the fish-farming facility would mark the inaugural large-scale implementation of RAS in the U.A.E., representing a significant milestone for the food and agriculture sector,” ADQ said in a statement.
This proposed RAS facility, which will be modeled after Finnforel’s own indoor aquaculture concept, is the second project to be announced by the U.A.E. recently in the KEZAD after ADQ announced a similar partnership in December with South Korean aquaculture startup Aqua Development for a land-based RAS shrimp farm.
The U.A.E. is aiming to entice more foreign investment in the KEZAD aquaculture zone, offering such incentives as 100 percent foreign ownership in companies, zero customs duties, free capital, profit repatriation, removal of minimum capital requirements, and an open policy on hiring foreign employees.
“With imports currently catering to the vast majority of the demand for protein in the U.A.E., our focus is to work toward closing supply gaps by introducing a new way of cultivating high-quality seafood that is cherished for its nutritional value,” ADQ Deputy Group CEO Mansour AlMulla said.
As for Finnforel, the firm sees promise in emerging markets like the U.A.E.
“The current global realities are heightening our awareness of the critical importance of food security. In the foreseeable future, it will become imperative for every nation to ensure the local production of most of their consumed food, including fresh fish,” Finnforel Co-Founder and CEO Pekka A. Viljakainen said. “Finnforel’s mission is to build a network of local facilities based on our tried-and-tested vertically integrated concept; an endeavor which must be pursued sustainably and with environmental responsibility. It is a tremendous honor for Finnforel to embark on this exciting journey of prospective growth with ADQ.”
