Abu Dhabi-Mubasher: International Fish Farming Holding Co (Asmak) neared enter into an agreement with Abu Dhabi Ports to establish the largest integrated center to manufacture, prepare, produce and store seafood in the region.
The agreement will be signed during SIAL Middle East in Abu Dhabi, according to a bourse statement on Sunday.
Asmak targets a production capacity reaching 40,000 tons of fishes annually with the completion of the two-stage project.
The projects will start within 4-5 months, the statement said, adding that it be completed and operated after 24 months.
The agreement will have a positive impact on Asmak's operating income in the long term.
