The Ministry of Agriculture, Fisheries and Water Resources has signed usufruct agreements with wholly government-owned Blue Waters LLC for the implementation of a pair of finfish projects with an investment of RO 13.4 million.
While one project will focus on tuna aquafeed, the other is on finfish farming.
The agreements were signed by Dr Saud bin Hamoud al Habsi, Minister of Agriculture, Fisheries and Water Resources with Shaikh Nasser bin Sulaiman al Harthy, Chairman of Blue Waters’ Board of Directors.
Dr Al Habsi said the agreements are in line with the ministry’s efforts to support 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), he noted.
The tuna aquafeed project will target international markets that import high quality tuna. Capacity is expected to reach 400 tonnes annually during the first phase, rising to 2,000 tonnes in future phases. The project, worth RO 4.8 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 Qurayat on a total area of 3.75 million square metres at a cost of RO 8.6 million.
Blue Waters LLC is a subsidiary of Fisheries Development Oman (FDO), which is part of Oman Investment Authority (OIA). (With inputs from ONA)