Pure Salmon sets up HQ in the Middle East
Land-based salmon farming company Pure Salmon is to establish its headquarters in Abu Dhabi, in the United Arab Emirates (UAE), from where it will expand its global network of RAS (recirculating aqualture system) farms.
The company, which is owned by Singapore based 8F Asset Management, has ambitions to produce 260,000 tonnes of salmon a year at farms with capacities of 10,000 and 20,000 tonnes, located near population centres in different parts of the world.
Last year it raised US$358.8 million (£260m) to develop land-based farming facilities in Poland, Japan, the US and France.
In a partnership with the Abu Dhabi Investment Office (ADIO), Pure Salmon will receive incentives to expand local food production, the company said in a press release.
Abu Dhabi is committed to developing its aquaculture industry to improve food security and promote economic growth.
To this end, Pure Salmon will also set up academic collaborations to share its know-how with Abu Dhabi stakeholders.
Stephane Farouze, chairman and founder of 8F Asset Management and board director of Pure Salmon, said: ‘We are proud and grateful to have ADIO as a strategic partner in the development of Pure Salmon.
‘Setting up Pure Salmon’s global headquarters in Abu Dhabi will enable the growth of a local team that will advance sustainable economic solutions and establish the UAE as an industry leader.
‘With ADIO’s support, Pure Salmon Abu Dhabi will create over 300 qualified jobs and supply the region with nutritious, healthy and locally produced protein.’
Dr Tariq Bin Hendi, director general of ADIO, said: ‘The introduction of Pure Salmon’s pioneering technology and knowledge to Abu Dhabi’s ecosystem will enhance the emirate’s aquaculture capabilities and create a hub from which new agriculture solutions can proliferate.’
Pure Salmon also has land-based farming projects in the pipeline in China and South Africa.