Friday, November 2, 2018

China’s Evergreen in talks to build $300m aquaculture farm in Saudi Arabia

By Louis Harkell

Nov. 1, 2018

ZHANJIANG, China -- Chinese aquaculture and feed giant Guangdong Evergreen Group is in discussions with Saudi Arabia to build a $300 million aquaculture farm in the desert, as the firm makes a push into the Middle East.  Frank Chen, vice president of Evergreen, told Undercurrent News the firm is in talks with Saudi ministers to undertake a project “worth around $300m”, during an exclusive interview at the firm’s headquarters in Zhanjiang, Guangdong province.  The Saudi project follows the completion last November of a $90m integrated tilapia and shrimp farm in Kafr el Sheikh, Egypt.   Last November Undercurrent reported Evergreen was in early-stage discussions with the Saudis about building such a farm, although at the time it did not disclose the potential value of the project. At $300m, the farm would be the single largest investment in an aquaculture development in the world.