Saudi shrimp and fish farming giant, National Aquaculture Group (Naqua), is planning to grow production to more than 250,000 metric tons by 2030, after the Saudi Investment Fund (PIF) -- through its subsidiary Saudi Agricultural and Livestock Investment Company (SALIC) -- recently invested in the company, becoming its largest shareholder.
PIF’s assets under management are more than $765 billion. SALIC is the fund's food security arm and will own 42 percent of Naqua following the financing.
"This is a very important investment for us, and for the government, and was made to allow us to achieve the target of 250,000 metric tons by 2030," said Diego Xavier Illingworth Torres, CEO of Naqua.
