UAE's Aqua Bridge to build aquaculture farm in India
TDT | agencies
A UAE aquaculture company linked to the ruling Al-Maktoum family of Dubai has agreed to develop an aquaculture farm and research centre in the Indian state of Uttar Pradesh at an initial cost of $461 million.
Aqua Bridge Group, whose chairman is Sheikh Ahmed bin Mana bin Khalifa Al-Maktoum, said the partnership project in the Uttar Pradesh town of Unnao includes the development of a 1 million tonne aquafeed plant to supply India's growing aquaculture sector.
Sheikh Al-Maktoum also has his own family investment office called AMKM Investments, which invests in technology, food and beverage and real estate, according to its website.
'This transformational project is set to redefine sustainable fisheries and food security in India, addressing local market gaps while driving large scale aquaculture development,' Mohammad Tabish, founder and CEO of Aqua Bridge, said in a LinkedIn post.
Aquaculture is the science of cultivating marine or freshwater food fish, such as salmon or trout, under controlled conditions.
The India project, which includes a 300 million fish fry hatchery, is in partnership with the World Bank's Uttar Pradesh Agriculture Growth and Rural Enterprise Ecosystem Strengthening (UP-Agrees) programme and the region's government, the company said. It will provide training for 100,000 farmers.
The UP-Agrees programme is a $325 million initiative aimed at enhancing farmers' incomes in Uttar Pradesh, focusing on improving crop productivity, promoting digital and climate-resilient agricultural practices and strengthening market connections.
The research and development part of the project is dedicated to advancing genetics, disease management and optimised farming techniques.
Aqua Bridge is in the process of completing the acquisition of Greek bass and bream producer Avramar, the largest aquaculture producer in the Mediterranean.
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