Arab Finance: The Suez Canal Authority (SCA) is exploring further cooperation with Spain-based seafood company Aframar to expand cage-based fish farming, as both sides discussed the technical and financial details of the proposed expansion, according to an SCA statement.

Osama Rabie, Chairman and Managing Director of the SCA, met with Tahiche Laconia, representative for Aframar, with the presence of El-Sayed Shalaby, Chairman and Managing Director of Egypt-based aquaculture producer Suez Canal Aquaculture Company.

Shalaby outlined plans to install 32 fish cages equipped with specialized systems for quality control, routine monitoring, and harvesting, noting that technical studies showed the project was designed to run entirely on solar energy.

The discussions build on an existing partnership under which Aframar supplies fish fry for the aquaculture company’s pilot cage farming project.

Expressing interest in strengthening ties with the SCA, Laconia outlined the company’s successful ventures in Europe and the Middle East, stressing its commitment to transferring expertise to the Egyptian side through personnel training and technology covering equipment, monitoring systems, fish feeding, and water quality management.

Laconia added that Aframar would provide regular oversight throughout the various operational stages to help ensure the project’s success.

For his part, Rabie pointed to the pilot’s successful harvest of gilthead sea bream, saying the initiative could increase production of high-quality fish and broaden export opportunities. He also directed that the legal procedures for contracting be accelerated so implementation could begin in the coming period.

Founded in 1972, Aframar specializes in processing, storing, importing, and exporting fish and seafood products.