Asmak was founded in 2010 by prominent individual and institutional investors in the food and retail sectors, with the principal aim of starting the first open-sea floating cage aquaculture project in Bahrain, reported the Gulf Daily News, sister company of TradeArabia.
Established off the coast at Askar, the company's fish farm is expected to reach a harvesting capacity of 1,500 tons by the fifth year of operations, constituting around 12 per cent of the total fish supply, and approximately 35 per cent of total fish imports in Bahrain.
"The project was established mainly to boost national food security as well as create new jobs for Bahrainis," chairman Saqer Shaheen told shareholders at the general assembly meeting held at the Bahrain Chamber of Commerce and Industry headquarters in Sanabis.
"We have completed phase one of the project and overcome all the challenges," he added.
Projects like aquaculture and aquafarming are very promising and would help a great deal in the country's development in the long run, Shaheen said.
The proposed business activities of Asmak will cover all aspects of aquaculture industry, including fish farming, processing, packaging, and export/import.