A UAE-based aquaculture company linked to the ruling Al-Maktoum family of Dubai has committed to developing a significant aquaculture farm and research center in the Indian state of Uttar Pradesh, with an initial investment of $461 million. Aqua Bridge Group, chaired by Sheikh Ahmed bin Mana bin Khalifa Al-Maktoum, revealed that the project in Unnao includes the construction of a 1 million-tonne aquafeed plant to meet the needs of India’s expanding aquaculture sector.
Sheikh Al-Maktoum also operates AMKM Investments, his family investment office focusing on technology, food and beverage, and real estate ventures.
“This transformational project is poised to redefine sustainable fisheries and food security in India, addressing local market needs while propelling large-scale aquaculture development,” said Mohammad Tabish, founder and CEO of Aqua Bridge, in a LinkedIn post.
The project, which includes a 300 million fish fry hatchery, is a collaboration with the World Bank’s Uttar Pradesh Agriculture Growth and Rural Enterprise Ecosystem Strengthening (UP-Agrees) program and the regional government. It aims to provide training for 100,000 farmers.
The UP-Agrees program, with a $325 million investment, focuses on enhancing farmers’ incomes through improved crop productivity, climate-resilient agricultural practices, and better market connections.
The R&D segment of the project will concentrate on advancing genetics, disease management, and optimized farming techniques.
Additionally, Aqua Bridge is in the process of acquiring Avramar, Greece’s leading bass and bream aquaculture producer in the Mediterranean.