Almarai signs agreements to support seafood processing in Saudi Arabia
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RIYADH, April 15 - Saudi food producer Almarai signed two agreements on Wednesday with the Ministry of Investment and the Shareek programme centre to support the localisation of fish and seafood processing in the kingdom, state news agency SPA reported.
The signing ceremony was attended by Environment, Water and Agriculture Minister Abdulrahman Al-Fadhli, Investment Minister Fahad Al-Saif, Almarai Chairman Prince Nayef bin Sultan bin Mohammed bin Saud Al Kabeer, and Hamad Al Sheikh, secretary-general of the Local Content and Balance of Payments Committee.
The project aims to strengthen food security by increasing local seafood production, improving supply chain efficiency and expanding the availability of seafood products in the domestic market.
It also aims to localise part of Saudi Arabia's seafood supply chain and support growth in the fisheries sector.
The project supports the national food security strategy, the national agriculture strategy and localisation targets aimed at replacing imports with locally made products.
It also aims to help localise 85% of the food industries sector, reduce reliance on external markets by 2030, and support private-sector investment and innovation in food manufacturing under Vision 2030.
