Pact signed for RO 30m canned fish project in Duqm SEZ

STRONG GROWTH: 85,000 sq metre site earmarked for processing of tuna, sardine and other marine products

BUSINESS REPORTER

MUSCAT, SEPT 5

The Public Authority for Special Economic Zones and Free Zones (OPAZ) signed on Sunday a land usufruct agreement with the International Marine Products Company, which intends to set up a complex on a 85,000 sq metre site for the canning of tuna, sardine and other marine products.

The agreement was signed by Eng Yahiya bin Khamis al Zadjali, who heads operations at Duqm SEZ, and Eng Nabil bin Salem al Ruwaidi, Chairman of the Board of Directors of International Marine Products.

The project will be established within a dedicated Fisheries and Food Industries Zone coming up not far from the multipurpose fisheries port in the SEZ.

Total investment in the plant is estimated at RO 30 million. The plant will produce about 27,000 tonnes per year of canned products in the initial phases, with further expansions planned in the future.

Ali Nasser al Rasbi, General Manager, said the company will launch a training program within its strategic plan to train Omani workers in all areas of the company’s operations. Moreover the company will mentor Omanis SMEs that can provide feedstock and other ancillary services to the plant.

“This project, which has emerged from the Tanfeedh Programme, will support Oman’s economic diversification objectives, maximise value creation from the Sultanate’s fisheries wealth, and contribute to exports. By working alongside Omani SMEs, it will support the growth of an ecosystem around fish processing and drive employment generation and entrepreneurial opportunities.”

International Marine Products Company is an affiliate of Fisheries Development Oman (FDO), which is a key investor in commercial fisheries, aquaculture and shrimp farming projects.