Saudi Arabian shrimp producer National Prawn Company (NPC) today announced it entered into a strategic cooperation with Norwegian aquaculture technology company Akva Group ASA.
The deal comes after NPC decided to expand its activities to include yellowtail kingfish production. NPC and Akva since 2007 have worked to develop the production systems to raise the species. In January, NPC's board of directors approved a plan to build a pilot-scale facility to product 5,000 metric tons of fish annually.As part of the agreement, the companies have agreed on a delivery contract and a letter of intent for contemplated deliveries from 2009 to 2011.
The first delivery from Akva will be the main components for a broodstock facility, and the letter of intent includes a delivery of a marine hatchery, two marine nursery systems, a marine pre-grow-out facility and four marine grow-out systems.
The broodstock facility is valued at about NOK 7 million (USD 987,215, EUR 786,868), with the following deliveries valued at NOK 135 million (USD 19 million, EUR 15 million).
Whether 35,000 to 50,000 metric tons can be raised annually will depend on the success of the pilot operation.
March 4, 2009
