Our Story

In 1978, the Council of Ministers issued Resolution No. (545), which included the establishment of a joint stock company for fishing in which the government participates by 40%. In 1979, the Council of Ministers issued Resolution No. (35), which included the formation of the first board of directors of the company, where the first meeting of the Board of Directors of the company was held under the chairmanship of His Excellency the Minister of Agriculture and Water at that time Dr. Abdul Rahman bin Abdul Aziz AlSheikh. During the same year, Dr. Nasser bin Othman Al Saleh was appointed as the first general manager of the company, the articles of association of the company was then authenticated. In 1980, the Saudi Fisheries Company was established in accordance with Royal Decree No. 7 / M as a Saudi joint stock company with a capital of SR 100 million.

The Saudi Fisheries Company was established with the aim of carrying out fishing activities and investing in living aquatic resources in the territorial waters of the Kingdom of Saudi Arabia according to the specific regulations and standards, as well as the manufacture and marketing of fish products and acquaculutre.

The Company’s headquarters was in the Eastern Province of the Kingdom of Saudi Arabia (Dammam City) through which the company started its activity in one shop in Dammam and one rented boat used for fishing in the Arabian Gulf. After that began fishing operations in the Red Sea in Jazan where the company then owned two ships.

What we have done in the past years has made us pioneers in the marine products sector and accumulated our expertise. During that period we contracted with international companies for fishing, opened the company’s two branches in Riyadh and Jazan, built four boats, exported the first shipment of shrimp to Japan, weighing about 200 tons. We have also established storage centers for storage and preservation of marine products in various regions. It was also agreed with the Somali government to allow the company to carry out fishing in Somali waters until 2002.

In 1983, fishing activities were completely halted in the Arabian Gulf due to pollution from Iranian oil wells.

qualitative leap for the company to a higher level of development in the field of storage and processing of marine products. This was followed by the tender for the establishment of Riyadh and Jeddah centers against SR 19 million.

In 1987, the first issue of Al-Nokhitha was issued, a special publication of the company and the link between the company and its customers, which continued until 1993, then the name of Al-Nokhitha was replaced by “Fisheries” in line with the company’s name and brand.

In 1988, the establishment of the valueadded seafood project, which was established to provide a range of manufactured marine products to a large segment of consumers in the local market, was approved. The brand (Fisheries) was adopted in 1992 under the company’s logo and business identity. The company owned more than 100 refrigerated trucks for transporting marine products between the production centers and distributing them to the regions and shops.

In 1985, the Saudi Industrial Development Fund approved the financing of the reception and processing center in Dammam for 15 million Saudi riyals. The event was a

In 1992, the company decided to diversify its investment portfolio by entering into aquaculture operations. A land was leased on the Red Sea coast in Al-Huraida area with a total area of 7500 square meters. It was licensed for shrimp aquaculture. The project was completed in 1997 with 108 sand ponds and start-up with an investment value of 200 million Saudi Riyals. During 2007, an expansion of the shrimp farm in Al-Huraida was approved with an investment value of SR 12 million and a total of 70 new sand ponds. The total number of ponds reached 178 with a production capacity of 3000 tons per year, which can be expanded to 6,000 tons annually.

In 1990, it was agreed to purchase a fish farm in the province of Qatif for the production of tilapia with a production capacity of 40 tons per year, which was later increased to 200 tons per year, where the experimental production started in 1993.

In 2001, the Company’s shares were listed and traded on the Saudi Stock Exchange (Tadawul). In 2005, the Company’s capital was approved to be increased by SR100 million to become the new capital of SR 200 million. In 2011, the company’s capital increased by SR 335 million to become SR 535 million. Subsequently, in 2013, several projects were approved, most notably the project of floating cages for raising fish in the sea within the Al-Huraida farm, as well as the approval of the establishment of the feed plant within the components of Al Huraida farm.

Bin Sulaiman Al-Muzaini in mid 2018 as a managing director of the company who started to prepare a strategic plan for transformation supported by various ambitious programs and projects approved by the Board of Directors. In the same year, a loan was received to finance the company’s operating activities amounting to SR 130 million. The company’s head office was transferred from Dammam to Riyadh.

In 1994, a concession was granted to some investors in the retail sector. In 2002, the concession was approved to apply it in the Eastern, Central, Western regions and Assir.

In 2002, the company obtained the Quality Management System Certificate 2000: 9001, as well as HACCP and Food Quality. The company also obtained the HACCP certificate in 2002 and was followed by ISO22000 certification in 2009.

In October 2017, a new Board of Directors was elected at its 12th session under the leadership of HE Mr. Tarek Bin Abdullah Al-Rameem and membership of a group of national competencies to develop the company’s business and achieve a financial and operational transformation in its business. The board appointed Mr. Ahmed

The company’s team works diligently to achieve the requirements of the strategic transformation plan and to make a qualitative leap in the company’s business, improve the quality and performance of its projects, maximize the exploitation of its existing assets, develop them and enter into partnerships and alliances with qualified and reliable entities to ensure the return of Saudi Fisheries Company to its leading position in the quality marine products sector to the aspirations of its customers.

Vision

To be a successful economic organization in achieving the objectives of our investors and maximizing their wealth, an initiative and an active organization that maintains its leading position in the seafood sector that contributes to the achievement of food security objectives and goals and improve the level and pattern of healthy food consumption.

Mission

To contribute to the promotion and support of initiatives to improve the level of food security in the Kingdom of Saudi Arabia mainly by providing a range of diverse marine products, with high nutritional value and quality to the highest international standards to ensure the full satisfaction of our customers and to achieve our vision in the long term.

Objectives

• To build a successful and positive economic entity influencing the sectors in which it operates and deals with.

• Achieve an appropriate level of growth in the return on investment of our shareholders coupled with a balanced growth in equity.

• Improve and develop the business model in line with the external variables and internal capabilities of the company.

• Enhance our expertise and employ it to achieve positive growth in the marine wealth investment sector locally and regionally.

• Integrate with Saudi 2030 Vision and Vision Achievement programs, mainly with regard to developing marine resources investments, food security and improving quality of life.

• Establish internal and external alliances at the level of the sectors in which we work with locally, regionally and internationally successful entities, to transfer the successful experience and exchange of technical expertise in all fields.

Values & Business Pillars

We work under a set of values, principles and professional best practices, including:

Quality

Our strategy is based on delivering quality products that exceed our customers’ expectations. Our interest in quality is not only to satisfy the renewable desires and requirements of our customers but also to achieve our vision and our long term objectives.

Customer

We care about customer satisfaction. We believe that our success is mainly related to the quality of service and the product provided to the customer, which satisfies the set level of satisfaction. We communicate periodically with our clients to gain a deeper understanding of their needs and requirements, take care of their feedback, and incorporate and include them into our ongoing development plans.

Development and Creativity

All of our activities are focused on them. We strive to create an internal environment that is conducive to development and innovation. We strive to continuously lead the market to positive competitiveness, reflecting on the interests of our customers to meet their expectations. We constantly strive to develop our business and internal capabilities to achieve excellence, serve the customer as expected and achieve the company’s objectives.

Entrepreneurship

We are working with this spirit continuously to take the lead in the marine product investment sector and to extend the impact to our customers to achieve their goals. We are keen to deal with leading individuals and organizations that believe in success and look forward to creativity.

Commitment

We feel our responsibilities towards the homeland, society and the environment. Therefore, we strive to fully abide by all the commitments and agreements that we conclude, as well as to comply with all laws, regulations and decisions issued by the regulators and agencies supervising the business environment in which we work and deal with.

Code of Conduct and Ethics

We adhere to the highest standards of conduct and professional work ethics in all our transactions and we understand the differences of these rules according to the working environments and markets in which we operate. These include, honesty, integrity and transparency, ensuring the achievement of objectives and success in accordance with the principle of effective partnership with the parties with which we deal.