National Prawn Company (NPC), of Saudi Arabia, and AKVA group ASA has entered into a strategic cooperation that includes a delivery contract and a Letter of Intent (LOI) for contemplated deliveries during 2009-11.

Already operating the world's largest shrimp production site at its location in Al-Leith, NPC has now decided to produce Marine Finfish.

Therefore, NPC will establish the production capacity of 35,000-50,000 tonnes of Yellowtail Kingfish in the first stage.

NPC and AKVA have worked closely to develop the production systems and strategies since the first consultancy agreement was signed during the Aqua-nor exhibition in 2007.

In January, NPC's the Board of Directors approved the plan to build the first "pilot scale" facility for the production 5,000 tonnes of fish.

The first major delivery from AKVA are the main components for a brood stock facility and the LOI includes delivery of a complete marine hatchery, two complete marine nursery systems, a complete marine pre-grow-out facility and four complete marine grow-out facilities. 

For AKVA, the brood stock delivery has a value of about NOK7 million and the LOI agreement has estimated value of about NOK135 million and is planned for delivery during 2009-11.

The development of the future stages to reach 35,000-50,000 tonnes production will be decided based on the success of the pilot scale operation.