Saudi Arabia-based shrimp and seabass producer Naqua has signed a strategic partnership with the Saudi Agricultural and Livestock Investment Company (SALIC), resulting in SALIC now owning 42.4 percent of Naqua.
Terms of the deal were not disclosed.
"The strategic partnership between SALIC and Naqua aligns with SALIC's objectives of achieving national food security goals and enabling the agricultural sector by enhancing local food production," SALIC Chairman Abdulrahman bin Abdulmohsen Al-Fadley said.
