Ministry signs 2 land development agreements worth over OMR13mn

Muscat: The Ministry of Agriculture, Fisheries and Water Resources and Blue Waters company signed here two land development (usufruct) agreements to the tune of OMR13.4 million.

The first agreement is related to tuna dieting, while the second agreement is on finfish farming.

The agreements were signed by Dr Saud Hamoud Al Habsi, Minister of Agriculture, Fisheries and Water Resources and Sheikh Nasser Sulaiman Al Harthy, Chairman of Blue Waters’ Board of Directors.

Al Habsi said that the agreements came within the framework of the ministry’s efforts in expanding fish farming projects which contribute to increasing local fish products, as well as providing job opportunities for Omani youth. Those projects will also boost the Gross Domestic Product (GDP).

The usufruct agreement for the tuna dieting project is considered a new initiative on the global level. It targets international markets that import high-quality tuna. As per this agreement, the production capacity is expected to reach 400 tonnes for the first phase, while the future expansion will increase the production to 2,000 tonnes. The project, worth OMR4.8 million, will be set up on a total area of 193 hectares.

The finfish farming project will expand its capacity from 3,000 tonnes to reach 5,000 tonnes. As per this agreement, the project will be expanded by developing a new marine area in the Wilayat of Quriyat on a total area of 3.75 million square metres to the tune of OMR8.6 million.