National Prawn Company (NPC) of Saudi Arabia and German firm Basf have agreed to collaborate in the field of algae technology. “The signed contract is marking once more the ability of Saudi Companies to be equal partners with World Class enterprises like Basf. It also shows that we are capable of offering solutions for domestic and global needs,” said NPC’s chairman Sulaiman Bin Abdul Aziz Al Rajhi.
“We are looking forward to a long cooperation with Basf, the world’s leading chemical company,” he added. Since the 1980s, National Prawn Company has developed knowledge and expertise in designing, building and operating a large system of man-made-lakes especially for the production of high-quality prawns for the market. Furthermore NPC is developing research programs on new algae species and sponsorships aquaculture projects around the world. Basf on the other hand is the g It is also creating research programs on new algae species and sponsorships aquaculture projects worldwide.
Michael Ceranski, Senior Vice President of Basf`s Human Nutrition business unit, said the partnership helps meet Basf’s ambitious goals of meeting and anticipating future needs in the market segments of food, beverages and dietary supplements, while also enhancing nutrition quality and promoting technological innovations. “Within these ambitious goals new partnerships like the collaboration with National Prawn Company are fundamental for us: NPC gives us access to more biomass from algae and to use and leverage the all-year non-changing climate conditions in Saudi-Arabia,” he said.
“We are very pleased and proud that National Prawn Company and Basf have succeeded in establishing this cooperation, bringing together the best of both companies to create a unique aquaculture project,” Engineer Ahmad Rasheed Al-Ballaa, Managing Director, NPC, added. NPC’s products are marketed domestically as well as in some 30 countries, including UK, Spain, Italy, Japan, Korea, US, China and Australia. NPC and Al-Rajhi International Company for Investment had earlier signed a memorandum of understanding with Mauritania’s government to develop the country’s agricultural sector.
Sedi Waled Al-Tah, minister of Economic and development affairs of Mauritania, and Al-Ballaa signed the deal. The proposed projects in Mauritania are valued at an estimate of $1 billion. Al-Ballaa said Al-Rajhi Alliance’s vast experience in the Saudi agricultural sector qualifies it to invest abroad and share new successful investments in a number of other countries like Mauritania.
To emphasize the importance of the collaboration, the Mauritanian minister said: “This venture aims to develop a number of mega projects in the fields of agriculture, livestock and fish farming, thereby serving investment and economic interests, while creating new means for food security among both countries.”