Photo: alta Mar Holding ASA

Moroccan-Norwegian Venture Invests US$21 Million in Marine Aquaculture Project

MOROCCO
Friday, February 14, 2025, 00:10 (GMT + 9)

Alta Mar, a joint Moroccan-Norwegian company specializing in high-value species such as Atlantic bluefin tuna, has announced a US$21 million investment in a marine aquaculture project in Safi, Morocco. The announcement was made at the Halieutis trade fair in Agadir (February 6-9).

Alta Mar's Bluefin Tuna project was presented at the Halieutis trade fair in Agadir

The project encompasses a 2.3-hectare hatchery for fry production, 75 hectares of sea-based breeding cages, and an 8-hectare processing facility designed to meet international seafood production and export standards. Operations are expected to commence in the final quarter of 2025.

While specific production volumes have not been released, this initiative comes as Morocco seeks to expand its aquaculture sector and reduce pressure on wild fish stocks. Currently, aquaculture contributes minimally to Morocco's overall fish supply. World Bank data indicates 2022 aquaculture production of 2,310 tonnes, representing less than 0.1% of the country's total fisheries output (over 1.5 million tonnes).

This project aligns with national aquaculture development goals. The National Agency for the Development of Aquaculture (ANDA) aims to establish 232 aquaculture farms by the end of 2025, targeting a production increase of 115,900 tonnes.

Jan Helge Dahl, CEO of Alta Mar Holding AS

Alta Mar's investment is projected to drive innovation, create over 400 direct and 1,200 indirect jobs, and contribute to Morocco's food security. The company emphasizes sustainability and knowledge transfer, collaborating with leading Norwegian institutions and local stakeholders.

As Africa's second-largest fish supplier (after Egypt), Morocco recognizes the growing importance of aquaculture. In 2023, landings from coastal and artisanal fisheries exceeded 210,000 tonnes (a 9% increase year-on-year), with an estimated production value of approximately US$1.13 billion. Current Moroccan aquaculture production includes species like seabass, seabream, and trout, with freshwater farming primarily utilizing extensive systems. The sector is experiencing steady growth and contributing to fisheries diversification efforts.

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