Egypt's government recently announced plans to build a $96 million (€81.7 million) aquaculture hub, another sign that the country is pushing forward with ambitious plans to expand the sector.
The project consists of a hatchery for fish and shrimp with a capacity for 20 million fish and 2 billion shrimp.
The hub will include marine farming operations with capacity of producing 3,000 metric tons of fish per cycle, a shrimp farm with capacity for 2,000 metric tons, and a freshwater fish farm that will produce up to fish 2,000 metric tons per cycle.
The project also includes an R&D center, a fish feed plant with a production capacity of 120,000 metric tons annually and a shrimp feed plant with an annual production capacity of 60,000 metric tons.
A world leader
Already a global leader in tilapia farming, the country's aquaculture production in 2017 of roughly 1.3 million metric tons surpassed salmon production in the global aquaculture powerhouse nations of Norway (1.28 million metric tons) and Chile (582,000 metric tons).
While Egypt -- and the Middle East in general -- are not looked at as aquaculture hot spots, a new level of interest and investment is fueling a renaissance in the region's aquaculture sector, according to the findings of the new report, "A new era of Middle East aquaculture," published by IntraFish's Business Intelligence division.
Egypt is ranked in the top 10 in terms of global aquaculture production, and Egypt Minister of Agriculture and Land Reclamation Ezz El Din Abu Steit said the country has plans to build on the Suez Canal, and is welcoming investors into the sector. Production of many of the species grown in the region has increased at about 10 percent annually over the last decade.
The Middle East market is primed to produce 2.9 million metric tons by 2030, according to the World Bank.
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IntraFish's "A new era of Middle East aquaculture," report details the level of new investment flowing into the region, and what each country is planning regarding aquaculture development.
Below is outline of what is contained in this report. For a free sample report, click here or please email: intelligence@intrafish.com
IntraFish's Business Intelligence released its newest report: The Middle East Aquaculture Report. For a FREE sample PDF of the report, please click here or email intelligence@IntraFish.com.
