Thursday, January 1, 2015

Oman government proposes $258.9 million poultry project

  • Andrea Gantz
    The Oman government has proposed a project in hopes of making the country's poultry industry more self-sufficient.
    From WATTAgNet:
    The government of Oman is planning to set up a major poultry project with a capital investment of OMR100 million (US$258.9 million) and is seeking financial support from the private sector.
    Promoted by the state-owned Oman Food Investment, the new poultry industry development is part of the country's initiative to attain self-sufficiency in poultry meat production, the Times of Oman reported.
    As part of this initiative, Oman Food Investment has invited country's largest integrated poultry company, A'Saffa Foods, to purchase a 20 percent stake in the proposed project. According to the report, the company has agreed to take a stake in the proposed OMR50 million (US$129.45 million) joint venture firm that will process poultry meat.
    A location for the proposed poultry project has not yet been established. However, the Oman government has placed two of three possible locations for the project on a short list, with the final choice of a location to be determined soon.
    The board for A'Saffa Foods has also approved another endeavor that will add to its growth. The company recently approved a proposal to set up a facility to manufacture organic waste and fertilizer production that is has obtained from residue of poultry farms.

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