July 13, 2022

US$6.3 million investment for setting up Singapore's first high-tech rainbow trout farm

Blue Aqua Singapore has announced an investment of S$8.8 million (US$6.3 million) from Muscat Investment House in order to build the city state's first high-tech rainbow trout farm.

Muscat Investment House is one of the largest and most prominent business conglomerates in the Sultanate of Oman, with more than 20 diversified subsidiaries throughout Oman and the Gulf. This is its first investment in Singapore, with the group's moving focus into the sustainable aquaculture sector.

Blue Aqua currently operates Singapore's largest land-based shrimp farm using its patented green technology for urban farming and announced plans earlier this year to build the country's first high-tech trout farm.

The project aims to incorporate super-intensive technology to help achieve sustainable trout production locally to support Singapore's food security initiatives.

According to Blue Aqua, the investment will allow it to increase distribution and aquafeed manufacturing in support of the country's ‘30 by 30' food security initiative.

"We are pleased to join Blue Aqua on its mission to expand its scope of work and enable it to expand its aquaculture business in Singapore," said Muscat Investment House in a press release. "This investment will be of mutual benefit to both companies and projects in Singapore and the Sultanate of Oman,"

The Blue Aqua Group is also expanding its farming operations into Oman under the entity Blue Aqua International Gulf LLC.

Blue Aqua said that it is currently "in discussion with other prominent funds in Europe and Southeast Asia to join this round of funding".

- The Fish Site