NEOM enters joint-venture to establish Topian Aquaculture

The JV builds on the memorandum of understanding (MoU) between NEOM and Tabuk Fisheries Company signed in 2021 and will establish Topian Aquaculture. The venture will include a hatchery that is expected to become the largest in the MENA region by the end of 2024 and has a planned capacity of 42 million fingerlings and marine-pen facilities, with the production of finfish projected to reach 20,000 tonnes per year.

Topian, the NEOM Food Company, is the key facilitator of the venture, which NEOM said aligns with its commitment to developing a robust, sustainable aquaculture sector in the kingdom to support food security and self-sufficiency, and ensure the production of fresh, healthy seafood in Saudi Arabia and beyond. 

This strategic agreement, unveiled at the Saudi International Marine Exhibition (SIMEC) in Riyadh, outlines Topian Aquaculture’s role in advancing the aquacultural landscape locally and regionally.

“Topian Aquaculture reflects NEOM’s mission to implement innovative solutions that strengthen key industry sectors, while mitigating our impact on the environment. The strategic joint-venture with Tabuk Fisheries Company highlights the role collaboration plays in NEOM’s goal of redefining business and in meeting the national objectives of Saudi Arabia,” NEOM CEO Nadhmi Al-Nasr said.

Dr Ali Al-Shaikhi, CEO of the National Livestock and Fisheries Development Program and Director General of Fisheries at the Ministry of Environment, Water and Agriculture, said Topian’s project would enhance the development of the aquaculture system in Saudi Arabia, serving in support of the kingdom’s strategic plan to further develop the fisheries sector, which aims to achieve food security and fish products’ self-sufficiency that ensures food safety and sustainability in the Kingdom.

Tabuk Fisheries Company Chairman Nasser A. Al-Sharif said the company is excited to bring the JV with NEOM to fruition. 

“Tabuk Fisheries Company has built a strong foundation, producing high-quality marine fish for the local market, and the joint venture will allow for the adoption and integration of next generation technologies, propelling Topian Aquaculture to the forefront of sustainable development,” he said.

NEOM will include hyperconnected, cognitive cities, ports and enterprise zones, research centers, sports and entertainment venues and tourist destinations.