December 23, 2024
Abu Dhabi, United Arab Emirates considers land-based shrimp farm in collaboration with South Korean startup
A land-based shrimp farm may soon be established in Abu Dhabi, United Arab Emirates following an agreement between the emirate's sovereign wealth fund, ADQ, and South Korean aquaculture startup Aqua Development.
The partnership aims to enhance local seafood production and reduce reliance on imports.
Aqua Development, based in Seoul, South Korea, utilises a combination of aquatic biology and technology to simulate the natural habitat of shrimp. This approach, according to the company, is more efficient than conventional fish farming methods. The startup claims its nature-based solution reduces costs and delivers up to 10 times the productivity, as stated by ADQ.
The project will commence with a trial phase at a half-hectare facility in the aquaculture zone within Khalifa Economic Zones Abu Dhabi (Kezad), the emirate's industrial park. If the trial proves successful, production will be scaled up significantly, according to ADQ.
Aqua Development operates an existing facility in Gochang, South Korea, producing 60 to 80 tonnes of shrimp annually. The company is also planning to establish a facility in Saudi Arabia. Aqua Development is a member of Hub71, Abu Dhabi's startup support organisation.
In the UAE, about 70% of seafood consumption is met through imports. Last year, 18,700 metric tonnes of shrimp were consumed in the Emirates, with this figure projected to increase by nearly a quarter to 23,000 tonnes by 2029. However, domestic shrimp production currently accounts for just 1.6% of the total annual demand.
Doohyun Lee, CEO of Aqua Development, expressed the company's ambitions to work with ADQ and other stakeholders to significantly reduce seafood imports by offering locally produced alternatives.
Mansour AlMulla, deputy group CEO at ADQ, highlighted the collaboration as part of the fund's commitment to strengthening the UAE's food resilience and self-sufficiency by addressing supply chain gaps through innovative solutions.
Abu Dhabi is already home to Al Jaraf Fisheries, which farms shrimp and fish near Bal Rumaid Island. Additionally, in 2022, Prime Aquaculture, a subsidiary of Emirates National Aquaculture, signed an agreement to develop the region's first shrimp recirculating aquaculture system farm in Dubai's Jebel Ali Free Zone. This facility uses advanced biofiltration systems to maintain a clean environment for shrimp farming.
ADQ has also recently entered into an agreement with Finnish aquaculture technology company Finnforel, further solidifying its efforts to advance sustainable aquaculture practices.
- Arabian Gulf Business Insight