Salmon Farming Is Coming to Saudi Arabia
- Norwegian-founded firm to grow fish in top oil-selling nation
- Vikings Label targets 5,000 tons per year for Saudis by 2023
Photographer: Mark Coote/Bloomberg
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The desert kingdom of Saudi Arabia, long synonymous with its oil wealth, may soon produce and export a less likely commodity: farm-raised salmon.
Vikings Label FZC, a company majority-owned by Norwegian investors, is planning to set up the country’s first salmon farming-project with an aim to supply Saudi consumers with as much as 5,000 tons of the cold-water fish each year by 2023. The facility will cost about $90 million, and the company is seeking $25 million of that from investors, Chief Executive Officer Lukas Havn said in an interview.