Saturday 04 / May / 2024
Singapore/Oman: Blue Aqua International, Bahwan Services and Trading LLC (“BSTL”), and Muscat Investment House ("MIH”) have announced a strategic partnership to develop major aquaculture projects in Singapore and Oman. The partnership aims to support the sustainable growth of the aquaculture industry and address food security concerns globally.
Blue Aqua International will partner with BSTL and MIH on a multi-phase aquaculture development project in Oman. This includes the country’s first state-of-the-art aqua feed mill with a production capacity upwards of 30,000 tonnes of feed, a high-tech trout farm capable of producing 3,000 tonnes and a super-intensive shrimp farm using Blue Aqua’s patented Mixotrophic System (in 8 countries) to produce 1,000 tonnes of shrimp annually.
With this partnership, Blue Aqua International, BSTL and MIH aim to support Oman's Vision 2040 by creating a world-class aquaculture project in the country, which will contribute to the economic diversification and growth of Oman while also addressing the increasing demand for sustainable seafood products globally.
"This partnership is a significant step towards the development of Oman's aquaculture sector and underscores the potential of the country to become a major player in the global seafood market," said Dr. Farshad Shishehchian, CEO of Blue Aqua International. "With our cutting-edge technology and BSTL’s expertise in project management and execution, we are confident that we can create a sustainable and profitable aquaculture project in Oman."
Quote from BSTL representative
"We are thrilled to announce our new aquaculture project partnership. By combining our expertise and resources, we are poised to make a significant impact in sustainable seafood production. Our shared commitment to responsible aquaculture practices will not only benefit the environment but also provide high-quality, nutritious seafood to consumers in Oman and around the world. We are confident that this partnership will drive innovation and growth, and we look forward to the positive impact we will make together."
In addition to Bahwan Service & Trading LLC's stake in Blue Aqua Singapore Pte. Ltd., MIH owns a 10 percent stake in the same entity established under Blue Aqua International. Together, these investments will support the development of Singapore's first high-tech trout farm, which is expected to produce upward of 3,000 metric tonnes annually in a space of 1.6 hectares using super-intensive technology. The project is expected to be completed in 2024 and will contribute to Singapore's '30 by 30' food security initiatives.
Blue Aqua Singapore Pte. Ltd is currently operating The Aquaculture Stewardship Council (ASC) certified super-intensive shrimp farm producing Kuruma Shrimp (Marsupenaeus japonicus), Tiger Shrimp (Penaeus monodon) and White Shrimp (Litopeneaus vannamei) using Blue Aqua’s patented aquaculture method, a multi-species, zero waste, super-intensive culture system.
The partnership aims to create a sustainable model for urban aquaculture and address food security concerns globally. With this partnership, Blue Aqua International, BSTL, and MIH are committed to contributing to the development of the aquaculture industry and supporting economic diversification in the regions.
Quote from MIH representative
"We are excited to announce our new partnership in the aquaculture industry. Our mission is to provide sustainable and responsible seafood to meet the growing demand while preserving our oceans' delicate ecosystems. With this partnership, we are committed to leveraging our collective expertise to drive innovation and efficiency in our operations, delivering top-quality products that meet the highest standards. Together, we will create a brighter, more sustainable future for both our business and the environment."
About Blue Aqua International
Blue Aqua International is a one-stop solution provider for the aquaculture industry worldwide. The group provides cutting-edge solutions for the management of the culture environment and the optimization of animal nutrition. Specialized in aquaculture technology and farming – the group transfers its expert solutions to over 4000 customers worldwide and operates farms in Singapore and Indonesia.
For more information, visit www.blueaquaint.com.
About Bahwan Services and Trading LLC
Oman based Bahwan Services and Trading (BSTL) LLC is a globally recognised business group.. BSTL invests in industrial projects, forming joint ventures with reputed international companies, and has expertise in sectors such as industrial manufacturing, renewable energy, future technologies, innovation, modern agriculture, digital economy, education, healthcare, and food security. Its aim is to diversify and innovatively deliver world-class products and services through empowered employees by creating value for stakeholders. BSTL offers various services to assist businesses in the GCC and India, such as setting up new entities along with support services for HR, Finance, Legal, and opening new doors through their existing network with the government and private sectors. The company has successfully implemented major projects such as Oman Liquefied Natural Gas LLC (Oman LNG) Project, High Tension Electrification Line for Petroleum Development Oman (PDO), and Oil & Gas Pipeline Projects with PDO including Oman’s first 100 MW solar power project.
About Muscat Investment House
Founded in 1992, MIH has expanded over the past three decades to become one of the largest and most prominent business conglomerates in the Sultanate of Oman. Renowned for its distinctive creative vision and its community development, MIH acts as a flagship company orchestrating more than twenty plus diversified, high-powered subsidiaries throughout Oman and the region. MIH Oman has developed specialized financial competencies to meet the growing need for experienced, discerning investment throughout the Sultanate.
For more information, visit www.mihoman.com.
