Saudi Fisheries plans to move aquatic farming plant to Al Haridah

01/04/2015 Argaam
Saudi Fisheries Co. (Asmak) said it is seeking approval from the ministry of agriculture to construct its Aseer Aquatic Farming Plant in Al Haridah instead of Amk.
 
Asmak signed yesterday a SAR 7.9 million contract with a Riyadh-based contracting company to begin construction activities. Equipment will be installed after completing civil works by October 2016. However, the 6-month delay may weigh on second quarter 2016 financials.
 
In addition, the company will likely outsource the feedstock required for the project, which will weigh on production expenses.
 
Last August, Asmak had received a letter from Amk municipality indicating that construction would be halted until municipality licenses are obtained, according to data compiled by Argaam.

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