Red Sea Development Company Produces Sustainable Seafood from Sunlight

The signing ceremony of MoU between the Red Sea Development Company and Blue Planet Ecosystems (TRSDC)
The signing ceremony of MoU between the Red Sea Development Company and Blue Planet Ecosystems (TRSDC)
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Red Sea Development Company Produces Sustainable Seafood from Sunlight

The signing ceremony of MoU between the Red Sea Development Company and Blue Planet Ecosystems (TRSDC)
The signing ceremony of MoU between the Red Sea Development Company and Blue Planet Ecosystems (TRSDC)

The Red Sea Development Company (TRSDC) announced a solution proposed to produce sustainable seafood and algae in a desert environment.

TRSDC strives to explore innovative technology solutions in response to growing consumer demand for sustainable protein during their travel experiences and support regenerative ambitions.

CEO Joe Pagano indicated that this project would set a new global standard in sustainable, multitrophic desert aquaculture where the company can turn sunlight into seafood.

“The [LARA] system has a minimal environmental footprint and will aid in carbon sequestration for our flagship destination as well as future projects on the Red Sea coast in alignment with the company’s aspiration to achieve 100 percent carbon neutrality,” added Pagano.

The project is done in collaboration with Blue Planet Ecosystems (BPE).

The Land-based Automated Recirculating Aquaculture (LARA) system works by replicating natural aquatic ecosystems in a modular and automated system.

LARA converts CO2 directly into chemical-free seafood using phyto and zooplankton as transitional stages. It is constructed of a tower of three horizontal units.

Pagano explained that the top unit uses the sun’s energy to grow microalgae which powers the entire system. The microalgae are then moved to the subsequent division down, where it nourishes zooplankton. The zooplankton is then transported to the bottom unit, where fish eat it.



Dubai's Emaar in Talks with Indian Groups, including Adani, to Sell Stake in Local Business

The logo of Dubai's Emaar Properties on a building under construction in Dubai, UAE, March 3, 2016. (Reuters)
The logo of Dubai's Emaar Properties on a building under construction in Dubai, UAE, March 3, 2016. (Reuters)
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Dubai's Emaar in Talks with Indian Groups, including Adani, to Sell Stake in Local Business

The logo of Dubai's Emaar Properties on a building under construction in Dubai, UAE, March 3, 2016. (Reuters)
The logo of Dubai's Emaar Properties on a building under construction in Dubai, UAE, March 3, 2016. (Reuters)

Emaar Properties, Dubai's largest listed real estate firm, is in talks with "a few groups" in India including Adani Group to sell a stake of its Indian business, it said on Thursday.

The builder of the world's tallest building, the Burj Khalifa, and other iconic parts of Dubai, said in a statement that the valuation and other terms of a potential deal were not finalized, without adding further details, Reuters reported.

The statement followed media reports on Wednesday stating that Adani Realty, the real estate unit of Indian billionaire Gautam Adani's Adani Enterprise, was in advanced talks to acquire a majority stake in Emaar India.

Emaar started its operations in the country in 2005 and has a portfolio of residential and commercial properties in Gurugram, Mohali, Lucknow, Jaipur and Indore, according to its website.

Besides India, it operates internationally in other markets including Saudi Arabia, Türkiye and the US.