EcoFishCircle enters into agreement with Hayal International Company for RAS facility in Saudi Arabia

EcoFishCircle AS (EFC) has signed a comprehensive Memorandum of Understanding (MoU) with Hayal International Company LLC (Hayal) for the delivery of a full scope mRAS (Modular Recirculating Aquaculture System) and the development of a land-based fish farming facility in Saudi Arabia with a production capacity of 10,000 tonnes of Atlantic salmon per year. 

“We are very satisfied to announce the partnership with Hayal for this project. This partnership reflects the strong alignment between our organizations, built through a transparent and constructive process. We value the professionalism shown throughout, and we look forward to the execution of the project,” says Daniel Jakobsen, CEO of EFC. 

The project is part of the Saudi Vision 2030 initiative, where the government has ambitions to make the country a major player in land-based aquaculture. EFC will be a technology partner and provide operational support. 

“By combining our technical expertise with the capabilities of our partner, we are enabling the deployment of our modular mRAS solution that sets a new standard in cost efficiency and biosecurity for RAS facilities” adds Henrik Kjevik Olsen, CCO at EFC. 

The companies will now move forward with the development of the facility, which will operate under the name Blue Oasis. This partnership will enable both organizations to combine their strengths in establishing a state-of-the-art aquaculture facility in Saudi Arabia. 

“We are pleased to formalize our collaboration with EcoFishCircle. Their advanced technological capabilities and commitment align closely with our ambitions, and we are excited about the opportunities this partnership can unlock” says Abdulrahman AlTayaran, CEO of Hayal. 

“Norway and several other countries have set themselves the goal of greatly increasing current seafood production. We believe this is not possible, in an environmentally friendly way, without land-based solutions. This view is shared by the authorities in Saudi Arabia, and we are pleased to be able to start this major project in collaboration with them,” says Terje Mikalsen, Chairman of the Board of Directors of EFC.