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Seafood processing plant
The project aims to establish an advanced seafood processing plant to provide efficient storage and preservation solutions for fresh and frozen seafood. The plant will process a variety of seafood including fish, shrimp, and oysters, with a focus on modern packaging techniques to preserve quality and nutritional value. The factory aims to meet the growing demand in the local market, especially in Riyadh, which is one of the largest seafood markets in the Kingdom.
Study content
Rationale for choosing the project
Using modern techniques in seafood processing to ensure quality and flavor are preserved.
The factory contributes to meeting the growing demand for seafood in the local market, making it easier for consumers to access healthy and diverse products.
The factory will provide many direct and indirect jobs, boosting economic development in the region.
The use of advanced technologies in storage and processing operations, which improves production efficiency and minimizes waste.
The project contributes to achieving food security and enhancing the sustainability of the seafood sector in the Kingdom.
Demand analysis
Saudi Arabia’s population is increasing dramatically to reach 40 million in 2030 from 34 in 2019.
Seafood consumption in Saudi Arabia is increasing by 5% per capita and is expected to reach the global average of 20 kg by 2030, generating additional demand for seafood.
Limited local seafood processing facilities and growing demand for convenient seafood products in Saudi Arabia.
Growing health awareness, rising disposable income level of the population coupled with shifting consumer attitude towards healthy eating habits.
Opening new markets: The plant can contribute to exporting products to regional and international markets, boosting financial returns and increasing the Kingdom’s competitiveness in the global market.
Financial indicators
Required capital:
The capital required for the project ranges from SAR 20 million to SAR 25 million. This includes construction costs, purchasing equipment, and securing the initial operations of the factory.
Expected rate of return (ROI):
The return on investment (ROI) for the project is expected to be in the range of 15% to 18% per year. This rate depends on the stabilization of the local market and the increase in demand for seafood in the Kingdom and export markets.
Payback Period:
Based on the expected return, the investor is expected to recover the invested capital in 5 to 7 years, after the start of full production operations and the realization of sustainable revenues.
Investment advantages
Local market growth:
With the growing demand for seafood in Saudi Arabia, the project provides an opportunity to invest in a fast-growing market with great potential to expand production and increase market share.
Export opportunities:
The project has the opportunity to expand its scope by exporting to the GCC and Middle East markets, where the demand for seafood is continuously growing.
Government support for the maritime sector:
The project is in line with government initiatives to support the maritime industry, allowing for the possibility of obtaining funding or incentives to support the plant.
Natural resource sustainability:
The project relies on sustainable local marine resources, which enhances environmental sustainability in the production chain and minimizes negative impacts on the marine environment.
High profitability:
With the growing demand for ready-to-eat and frozen seafood, the project can achieve high profitability compared to many other food industries.
Features of the project
High-quality products:
The project enables the production of fresh, frozen and processed seafood in innovative ways, enhancing its quality and increasing customer satisfaction.
Capitalizing on geographical location:
Due to the Kingdom’s geographical location near the sea, the project benefits from easy access to local fisheries, reducing transportation and import costs.
Fast production cycle:
The factory enables a fast production cycle thanks to modern processing techniques and cold storage, which contributes to meeting market needs faster and more efficiently.
Employment opportunities:
The project provides employment opportunities in various fields such as production, marketing, and distribution, contributing to local job creation and stimulating the national economy.
Product innovation:
The project offers opportunities to introduce new products such as ready-to-eat or innovatively processed seafood, attracting a wide range of consumers.
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