Omani Giants, Bahwan Group and Muscat Investment House have announced a significant investment in Blue Aqua Singapore, a subsidiary of aquaculture technology provider Blue Aqua International. The partnership was officially sealed during a ceremony held in Singapore , attended by the heads of all three companies, Singapore officials, and distinguished VIP guests who expressed their unwavering support for this momentous occasion.
The investment from BSTL and MIH is expected to fuel the rapid expansion of Blue Aqua Singapore’s farming operations. With the infusion of funds, Blue Aqua Singapore will be able to enhance its high-tech trout farming capabilities, expand distribution channels and boost the production of aquafeeds for export.
“This investment demonstrates a strong vote of confidence in Singapore’s aquaculture industry. The growth of Blue Aqua will not only meet the rising demand for sustainable seafood in the region but also contribute to Singapore’s food security objectives. Once the farm construction is completed in 2024, Blue Aqua is projected to produce 50% of Singapore’s seafood,” stated Dr. Farshad Shishehchian, CEO of Blue Aqua International.
Blue Aqua Singapore is currently operating a super-intensive shrimp farm, certified by The Aquaculture Stewardship Council (ASC), where it produces tiger Shrimp and white Shrimp using its patented aquaculture method. It stands as the only ASC-certified shrimp farm in Singapore.
Furthermore, this partnership marks the beginning of a multi-phase aquaculture project in the Gulf Cooperation Council (GCC), particularly in Oman. The Bahwan Group aims to support Oman’s Vision 2040 by establishing a world-class aquaculture project in the country, contributing to economic diversification and growth while meeting the increasing global demand for sustainable seafood products.
The collaboration between Bahwan Group, Muscat Investment House, and Blue Aqua Singapore seeks to build a sustainable model for urban aquaculture, addressing food security concerns worldwide.
