RO71mn worth of fish products project to be set up in Duqm
A RO71mn worth of project for the production of canned tuna and sardines will be set up in the Special Economic Zone in Duqm.
The founding committee of the project on Tuesday announced the establishment of International Marine Products Company for the project of canned tuna and sardines in Duqm with Omani-Gulf joint investment, according to an Oman News Agency report.
The cost of setting up the project in the first phase will be about RO29mn and in the second stage, the cost will reach to RO42mn. The project will be established in the area for fisheries industries at the fishing port in Duqm.
The project, which is expected to start production in early 2022, is planned to produce 72,000 tonnes of sardines and 17,000 tonnes of tuna fish annually.
The company will also produce oil and animal feed produced from fish, in addition to the manufacturing of metal containers.
The canned tuna and sardines project is one of the important projects adopted by the Oman Food Investment Holding Company. A number of local private investors and Hassad Food - Qatar’s premier investor in food sector are participating in the project.
Investors have approved the company’s founding contract and the partner’s agreement. They also approved the name of the new company as International Marine Products Company.