March 22, 2013

AKVA group will provide cage farming technology to Saudi Arabia's National Prawn Co. (NPC) valued at US$10,160,700, for delivery between April and October 2013.

"This is the first large contract for delivery of advanced and proven cage farming technology to the Middle East region, and we are of course honored that NPC has chosen AKVA group to supply this for their large offshore fish farming projects in the Red Sea", says COO Export at AKVA group, Trond Severinsen.

Ahmad Al Ballaa, managing director of NPC states, "Our company have now started the first building phases of a major offshore finfish aquaculture expansion in the Red Sea, with a planned total production of 100,000 tonnes/year within 10 years. This in order to grow our business from land based prawn farming to offshore cage farming of finfish in a secure and sustainable manner.

Ruben Alvarez, Fish Business Director of NPC, adds, "We chose AKVA group as a supplier of this important part of our operations due to their long track record and quality products…Consequently, NPC is determined to use the most modern technology available, of which AKVA group has a leading position.