Oman’s Bahwan Services and Trading LLC (BSTL) and Muscat Investment House (MIH) have entered into a strategic partnership with Singapore-based Blue Aqua International with the goal to “support the sustainable growth of the aquaculture industry and address food security concerns globally”.
The partnership plans to develop Oman’s first state-of-the-art aquafeed mill with a production capacity upwards of 30,000 tonnes of feed, a trout farm capable of producing 3,000 tonnes and a super-intensive shrimp farm using Blue Aqua’s patented ‘Mixotrophic System’ to produce 1,000 tonnes of shrimp annually.
With this partnership, BSTL, MIH and Blue Aqua International aim to support Oman's Vision 2040 and contribute to the economic diversification and growth of Oman, while also addressing the increasing demand for sustainable seafood products globally, Blue Aqua International revealed yesterday.
Sujit Naha, Group Finance Director and COO of BSTL said, “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.”
“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,” said Basem al Kayyali, CEO of MIH.
On the other hand, Dr Farshad Shishehchian, CEO of Blue Aqua International, said, “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. 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."
In addition to BSTL's stake in Blue Aqua Singapore, MIH owns a 10 per cent stake in the same entity established under Blue Aqua International.
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